I happen to be the sole recipient of my late father’s will and I have everything in my name alone, including the my former home in Enfield Lock. Conveyancing formalities meant that the Land Registry date was in January. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership will be regarded the same way as if I'd bought the house in January. Is the property unsalable for six months?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. How practical a view banks take of it, depend on the mortgage company as this provision is principally there to capture the purchase and immediately sell or the quick reselling of properties.
Are all Enfield Lock Conveyancing Quality Solicitors on the Lloyds conveyancing list of approved practices?
A selection of banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
I recently had an offer accepted on an apartment in Enfield Lock. My mortgage broker suggested a conveyancer. I paid an on account payment of £150. Soon after, the conveyancing practitioner contacted me sheepishly admitting that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
What will a local search reveal regarding the house we're buying in Enfield Lock?
Enfield Lock conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations for example Onsearch The local search is essential in every Enfield Lock conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your new home. The search will reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
Me and my brother own a renovated Georgian house in Enfield Lock. Conveyancing solicitor represented me and Skipton Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Enfield Lock and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing lawyer who conducted the work.
How does conveyancing in Enfield Lock differ for new build properties?
Most buyers of new build or newly converted property in Enfield Lock come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Enfield Lock tend to buy 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 conveyancers 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 accustomed to new build conveyancing in Enfield Lock or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Enfield Lock is where the house is located. Can you shed any light on this issue?
Flying freeholds in Enfield Lock are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Enfield Lock you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Enfield Lock may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How do I locate a Enfield Lock solicitor on the Bank of Ireland conveyancing panel? I am a keen cyclist and am willing to travel upto 10kilometers to meet the solicitor.
Feel free to make use of the tool on this page. Please choose the bank and your location and you will see a number of Enfield Lock conveyancing lawyers locally. We have listed some Enfield Lock conveyancing firms at the bottom of this page and you can telephone them to see whether they are on the Bank of Ireland panel