I am need of leasehold conveyancing for a flat in a fairly new development (five years old) in Moor Park. Almost all the flats have already been disposed of. Do I need carry out the conveyancing searches as part of conveyancing in Moor Park?
If you getting a loan, your lender will require some (many) of the searches so you'll have no choice. If not, then Moor Park conveyancing searches are optional. Your solicitor, will 'advise', perhaps strongly, that you should have the searches done, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you choose to instruct your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Moor Park.
I am thinking of refinancing my property in Moor Park, does my lawyer have to be on the Lloyds Solicitor panel?
There is nothing to stop you using your solicitor, but Lloyds will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I happen to be the single beneficiary of my late father’s estate with all property in now in my sole name, including the my former home in Moor Park. Conveyancing formalities meant that the Land Registry date was in May. I now wish to sell up. I do know about the CML six month 'rule', which means that my property ownership could be regarded the same way as if I'd bought the house in May. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors 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. Most mortgage companies would take a pragmatic view as this obligation chiefly exists to capture subsales or the wholesaling and assigning of property.
It is not clear whether my lender requires a lease extension. I have telephoned my Moor Park building society branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My Moor Park conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your lawyer must follow the CML Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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.
I have instructed a Moor Park conveyancing practitioner having made sure that they are on the Coventry BS conveyancing panel. Does my lawyer arrange the survey of the property?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS 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. You may wish to consider appointing your own Moor Park surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
It has been five months since my purchase conveyancing in Moor Park completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 asset 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.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Moor Park I like with a park and railway links in the vicinity, the downside is that it's only got 49 years on the lease. I can't really find anything else in Moor Park suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the shortness of the lease will likely be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
What makes your site different to alternative web based conveyancing brokers for conveyancing in Moor Park?
At this site secure a conveyancing quote via a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Moor Park. Unlike many estate agents and brokerage sites we do not operate kick-back deals with solicitors. Some agents and online brokers 'recommend' the firm paying the most kickback, not the best value conveyancing in Moor Park