Having sold my house in High Peak last April but the buyer keeps SMS messaging daily complaining that his lawyer needs to hear from mysolicitor. What are the post completion sale formalities following completion?
Post completion of your sale your lawyer is committed to forward the transfer deeds and all of the paperwork to the buyer’s conveyancer. Depending on the transaction, your solicitor must also evidence that the legal charge in favour of the lender has been repaid to the buyers conveyancers. There are no post completion requirements just for conveyancing in High Peak.
We previously appointed solicitors located in High Peak on the Co-operative solicitor approved list. They are now charging me a separate amount for the legal aspects of the Co-operative mortgage. Is this a supplemental conveyancing fee set by Co-operative?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your property lawyer can charge a fee for this. This fee is not dictated by Co-operative but by your High Peak lawyer. Some firms on the Co-operative panel will levy an ‘acting for lender’ fee but many practices incorporate it on their overall fee.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my High Peak bank branch on various occasions and was told it does not impact the mortgage offer and they would lend. My High Peak conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your conveyancer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local High Peak solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland 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 solicitor 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 High Peak postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in High Peak.
four months have elapsed since my purchase conveyancing in High Peak took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 property 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.
How does conveyancing in High Peak differ for new build properties?
Most buyers of new build or newly converted property in High Peak approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in High Peak typically acquire the real estate, 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 used to new build conveyancing in High Peak or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. High Peak is where the house is located. Is there any advice you can give?
Flying freeholds in High Peak are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside High Peak you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in High Peak may determine 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 property.
How do I use the search app to select a conveyancing practitioner in High Peak on the panel for my bank?
First choose a mortgage company such as Barclays , Leeds Building Society or Nottingham Building Society then choose your preferred area a common one being High Peak. Conveyancing firms in High Peak and further afield should be listed.