Have just purchased a repossessed house at auction in Emerson Park. Conveyancing is required. What happens now?
Given that you are now for in every practical sense signed on the dotted line you must find a conveyancing lawyer quickly as you now have a pending a fixed date to complete the property. An auction property should have a corresponding legal set of papers. This will include evidence of title and search results. Where you are dealing with leasehold property the auction papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You need to pass this on to the solicitor working for you as soon as possible. Do make sure that that you have the requisite funding in order to complete on the on the contractual date .
My wife and I are in the throws of looking at flats in Emerson Park and I am now considering a potential offer. Should I already have a lawyer in place at this point? I am planning to take a home loan with Virgin Money.
It would be sensible to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are getting a mortgage with Virgin Money, make sure you remember to check that your lawyer is on the Virgin Money conveyancing panel.
I currently have a mortgage with Bank of Ireland for my property in Emerson Park. Conveyancing was finalised 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
Your original mortgage agreement with Bank of Ireland will provide that you need their approval before renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland directly. It should not be necessary to do this via a Bank of Ireland conveyancing panel solicitor.
Should our solicitor be raising questions about flooding during the conveyancing in Emerson Park.
Flooding is a growing risk for lawyers conducting conveyancing in Emerson Park. Plenty of people will acquire a house in Emerson Park, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a various checks that may be initiated by the buyer or by their lawyers which can figure out the risks in Emerson Park. The standard property information forms supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to find out whether the property has historically flooded. In the event that the premises has been flooded in past and is not disclosed by the owner, then a purchaser may bring a claim for damages as a result of such an inaccurate response. The buyer’s solicitors should also commission an environmental search. This should higlight if there is any known flood risk. If so, more detailed inquiries should be conducted.
It has been four months following my purchase conveyancing in Emerson Park took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey carried out on a house in Emerson Park in advance of appointing lawyers. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some lenders tend refuse to issue a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. Should you wish to telephone us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Emerson Park. Conveyancing will be smoother if you use a solicitor in Emerson Park especially if they regularly deal with such properties in Emerson Park.
I have been sourcing a conveyancing lawyer in Emerson Park for my sale. Is it possible to check a solicitor's record with the profession’s regulator?
One may review presented Solicitor Regulator Association (SRA) determinations resulting from investigations from 2008 onwards. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The regulator could recorded telephone calls for training purposes.
The lawyers undertaking our conveyancing in Emerson Park has sent documents to review that reveal that the property is unregistered with epitome documents. Surely all property in Emerson Park are registered?
It is a rare occurrence indeed to find property in Emerson Park to be unregistered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Plenty of Emerson Park conveyancing lawyers will be capable of dealing with this type of conveyancing but if any uncertainty exists the conventional recommendation presently seems to be for the current owners to register the title first and thereafter sell - this will have a domino effect to cause a prolonged conveyancing.