Completed the sale of my flat in Coleford last November but the buyer keeps whats apping every few hours to say their solicitor is waiting to hear from mine. What should have happened following completion?
Following your sale your lawyer is duty bound to send the transfer deeds and all additional paperwork to the buyer’s conveyancer. Where appropriate, your conveyancer should also evidence that the mortgage has been discharged to the purchasers conveyancers. There is unlikely to be post completion formalities peculiar conveyancing in Coleford.
I happen to be the single recipient of my late grandmother’s will with all property in now in my sole name, including the my former home in Coleford. The Coleford property was put into my name in June. I plan to dispose of the property. I do know about the CML 6 month 'rule', which means that my property ownership could be regarded the same way as though I had purchased the property in June. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. How sensible a view banks take of it, depend on the mortgage company as this clause primarily exists to pick up on the purchase and immediately sell or the quick reselling of properties.
is it true that all Coleford conveyancing solicitors on the Leeds Building Society conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Leeds Building Society approved list of solicitors they would need to be regulated by the SRA. Some mortgage companies do list licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
I have instructed a Coleford lawyer having made sure that they are on the Kent Reliance conveyancing panel. Does my lawyer arrange the survey of the property?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Coleford postcode. As you are getting a mortgage with Kent Reliance, you could contact them to see if they have a list of approved surveyors in Coleford.
Despite weeks of looking the Title Certificate and documents to our home can not be found. The conveyancers who conducted the conveyancing in Coleford 4 years ago are no longer around. What are my next steps?
Nowadays there are copies made of almost everything, and your conveyancer will be aware precisely where to look for all the suitable paperwork so you can purchase or sell your property without any difficulty. If copies are not available, your lawyer may be able to arrange cover in the form of insurance or indemnities protecting you against future claims on the property.
How does conveyancing in Coleford differ for newly converted properties?
Most buyers of new build property in Coleford contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Coleford typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Coleford or who has acted in the same development.
I own a leasehold house in Coleford. Conveyancing and Halifax mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Coleford who previously acted has now retired. What should I do?
The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Coleford conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I acquired a studio flat in Coleford, conveyancing was carried out in 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Coleford with an extended lease are worth £181,000. The ground rent is £55 charged once a year. The lease expires on 21st October 2077
With only 51 years left to run we estimate the price of your lease extension to range between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
Should I cancel the direct debit for my mortgage with Virgin Money as soon as a completion date for my home sale in Coleford has been set?
No, you must maintain paying any mortgage sums to Virgin Money until the mortgage is repaid from the proceeds of sale as part of your Coleford conveyancing.