I happen to be the only recipient of my late mum's estate with all property in now in my sole name, including the my former home in Mousehole. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship may be regarded the same way as if I'd bought the house in March. Do I have to wait half a year to sell?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. How sensible a view mortgage companies take of it, depend on the bank as this obligation principally exists to identify the purchase and immediately sell or the quick reselling of properties.
Are all Mousehole Conveyancing Quality Solicitors on the Virgin Money conveyancing list of approved practices?
Some major lenders now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
My partner and I have arranged the release of further monies on our mortgage from Leeds Building Society as we intend to carry out a loft conversion to our home in Mousehole. Are we obliged to select a bricks and mortar Mousehole solicitor on the Leeds Building Society conveyancing panel to handle the paperwork?
Leeds Building Society do not ordinarily appoint firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society panel.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The lawyers who did the conveyancing in Mousehole 5 years ago have long since closed. What are my next steps?
You no longer need to hold title official documentation to prove you are the owner of your registered land or premises, given that the Land Registry hold details of all registered land or property electronically.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Mousehole is where the house is located. Can you offer any opinion?
Flying freeholds in Mousehole are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mousehole you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mousehole may ascertain 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.
In scouring the internet for the term on line conveyancing in Mousehole it brings up many property lawyerslocally. With so much choice what is the best way to find the suitable conveyancing solicitor for purchase transaction?
The ideal method of seeking the right conveyancer is via trusted testimonial, so enquire of colleagues and family who have acquired a property in Mousehole or the local estate agent or financial adviser. Fees for conveyancing in Mousehole differ, so it's a good idea to secure at least four costs illustrations from varying types of property lawyers. Make sure that you know that the fees are fixed.
I am a negotiator for a busy estate agent office in Mousehole where we have witnessed a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Mousehole conveyancing solicitors. Can you shed some light as to whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a 1 bedroom flat in Mousehole, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Mousehole with an extended lease are worth £211,000. The ground rent is £45 invoiced every year. The lease expires on 21st October 2088
With only 67 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
At what stage do I cover the costs of stamp duty chargeable for my conveyancing in Mousehole?
The majority of property lawyers tend to complete a Land Transaction Return Form on your behalf as part of your Mousehole conveyancing transaction for you to sign. On completion your lawyer will submit your Land Transaction application to the Tax Authorities and - as long as they have the funds - settle any Stamp Duty due for you.