I am the sole recipient of my late father’s will and I have everything in my name now, including the house in Great Yarmouth. Conveyancing formalities meant that the Land Registry date was in November. I want to move. I understand that there is a CML six month 'rule', which means that my property ownership will be considered the same way as if I'd bought the house in November. Will no one buy the property for half a year?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. Most lenders would take a practical view as this obligation is principally there to capture subsales or the quick reselling of properties.
After weeks of negotiation I have agreed a price on an apartment in Great Yarmouth. My mortgage broker pressured me to appoint their lawyer. I paid an upfront payment of £200. Not long after, the property lawyer contacted me to say that they were not on the Virgin Money 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 Virgin Money 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.
RBS have agreed my mortgage in principle, my offer on a apartment in Great Yarmouth has been agreed to, now what?
Your estate agent will wish to know who your solicitors are (be sure the conveyancers are on the lender’s approved list). Call up RBS or your broker and complete any outstanding documentation. RBS will sellect a valuer who will get in contact with the selling agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes on average ten days to receive the mortgage offer. RBS will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Great Yarmouth.
I understand that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when buying a residence in Great Yarmouth? or I am told that there is a law dating back centuries that could mean that house owners living in a parish church boundary will be compelled to contribute towards maintenance towards the chancel within the church. Is this applicable for conveyancing in Great Yarmouth?
Unless a prior purchase of the house completed after 12 October 2013 you could expect lawyers handling conveyancing in Great Yarmouth to remain recommending a chancel search and or chancel repair liability insurance.
How does conveyancing in Great Yarmouth differ for new build properties?
Most buyers of new build or newly converted property in Great Yarmouth contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Great Yarmouth usually purchase the land, 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 Great Yarmouth or who has acted in the same development.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Great Yarmouth I like with a park and station nearby, however it only has 51 years unexpired on the lease. There is not much else in Great Yarmouth for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan that many years will be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
As co-executor for the will of my father I am selling a residence in Cardiff but I am based in Great Yarmouth. My solicitor (based 300 miles from meneeds me to execute a stat dec before the transaction finalising. Can you recommend a conveyancing lawyer in Great Yarmouth who can witness this legal document for me?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are located in Great Yarmouth
Me and my husband accepted an offer on a Great Yarmouth property we inherited six years ago in 2010. I have over a decades worth of conveyancing knowledge and, now retired, wish to undertake my own legal work. The buyer's solicitor has informed me that their Lenders will not allow you to do your own conveyancing as they require the funds to be passed via a solicitor's bank account.
Mortgage instructions to lawyers from all CML members state that If the seller is not legally represented the purchaser’s lawyers should check whether the lender needs to be told so that a decision can be reached if they are prepared to move forward.