My house in Longbenton is up for sale and I have a purchaser. Will the conveyancing practitioner have to be on the Coventry BS conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
I am the only recipient of my late father’s estate with all property in now in my sole name, including the house in Longbenton. Conveyancing formalities meant that the Land Registry date was in March. I now wish to sell up. I do know about the CML 6 month 'rule', which means that my proprietorship will be regarded the same way as though I had purchased the house in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires 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 could be affected by that. How sensible a view banks take of it, depend on the mortgage company as this provision primarily exists to identify subsales or the wholesaling and assigning of property.
Are all Longbenton Conveyancing Quality Solicitors on the Nationwide conveyancing panel?
It is true that some lenders now utilise CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
I am expecting a DIP from RBS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do RBS recommend any Longbenton solicitors on the RBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Longbenton solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
Should my conveyancer be raising questions regarding flooding during the conveyancing in Longbenton.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Longbenton. There are those who purchase a property in Longbenton, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to impart advice on flood risk, but there are a various searches that can be initiated by the purchaser or by their solicitors which can give them a better appreciation of the risks in Longbenton. The standard completed inquiry forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual question of the owner to discover whether the premises has suffered from flooding. If the premises has been flooded in past which is not notified by the vendor, then a purchaser may commence a claim for damages resulting from an misleading response. A purchaser’s conveyancers should also order an environmental search. This will indicate if there is a recorded flood risk. If so, additional inquiries should be initiated.
Are there restrictive covenants that are commonly identified as part of conveyancing in Longbenton?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Longbenton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a flat up to £305k and found one round the corner in Longbenton I like with open areas and railway links in the vicinity, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Longbenton in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan that many years will be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
As co-executor for the estate of my father I am disposing of a property in Neath but reside in Longbenton. My solicitor (approximately 300 miles awayrequires that I sign a stat dec prior to the transaction finalising. Could you suggest a conveyancing solicitor in Longbenton who can attest and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are based in Longbenton