I am the only beneficiary of my late grandmother’s will and I have everything in my name now, including the my former home in North Hykeham. Conveyancing formalities meant that the Land Registry date was in December. I now wish to sell up. I understand that there is a CML 6 month 'rule', meaning my property ownership could be regarded the same way as if I'd bought the property in December. Do I have to wait 6 months 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 might be caught by that. How practical a view mortgage companies take of it, depend on the bank as this clause principally exists to pick up on subsales or the wholesaling and assigning of properties.
Are all North Hykeham Conveyancing Quality Solicitors on the Leeds Building Society conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
I have a mortgage with Skipton for my property in North Hykeham. Conveyancing has been completed some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Skipton?
Your original mortgage agreement with Skipton will provide that you need their approval prior to letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. It should not be necessary to do this via a Skipton conveyancing panel solicitor.
My wife and I purchased a renovated Edwardian house in North Hykeham. Conveyancing lawyer represented me and Leeds Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold with the exact same address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in North Hykeham and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing solicitor who conducted the work.
I was pointed in your direction by a few property agents in North Hykeham to locate a conveyancer on your site. Is there a financial upside for Estate Agents to recommend your services rather than alternative conveyancing organisations?
We don’t offer any commission for directing people our way. We found it would be just too difficult a fee as a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
As co-executor for the estate of my aunt I am selling a house in Newport but I am based in North Hykeham. My solicitor (based 235 miles awayrequires that I execute a statutory declaration prior to completion. Could you suggest a conveyancing practitioner in North Hykeham who can attest this legal document for me?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are North Hykeham based
I've recently bought a leasehold flat in North Hykeham. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in North Hykeham - Sample of Questions you should consider Prior to buying
The best form of lease structure is where the freehold title is owned by the leaseholders. In this arrangement the leaseholders have being in charge if their destiny and even though a managing agent is frequently retained where it is larger than a house conversion, the managing agent acts for the leaseholders themselves. Make sure you find out if the the lease contains any adverse restrictions in the lease. For example it is fairly common in North Hykeham leases that pets are not allowed in certain buildings in North Hykeham. If you like the flatin North Hykeham yet your cat can’t live with you then you will be faced hard decision. The answer will be useful as a) areas could cause problems in the building as the communal areas may begin to deteriorate where repairs remain unpaid b) if the leasehold owners have a dispute with the running of the building you will need to have all the details
I previously told by my mortgage company that their approved conveyancers operate no move no charge basis for conveyancing in North Hykeham. Our purchase aborted and now the solicitors want search fees! They say the fees are independent!
North Hykeham conveyancing search costs are separate expenses not legal costs as these are payable to a third party.