I require conveyancing for a flat in a fairly new development (five years old) in Portland. Almost all the properties are already sold. Is it really necessary to order conveyancing searches for my conveyancing in Portland?
You would be taking a significant risk in refusing to carrying out Portland conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal requirement to have them, but we would strongly advise in no uncertain terms that your conveyancer conducts them. If speed and cost are primary issues you should discuss with your solicitor about the option of search insurance
It is is a decade since I bought my home in Portland. Conveyancing solicitors have just been appointed on the sale but I can't track down the title documents. Is this a major issue?
Don’t worry too much. First the deeds may be retained by the mortgage company or they could be archived with the solicitor who acted in your purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring current official copies of the land registers. Most conveyancing in Portland involves registered property but in the rare situation where your property is unregistered it adds to the complexity but is resolvable.
Can you help - my lawyer says that lack of building regulations insurance is needed on my purchase. What is the level of cover for Portland conveyancing?
The right level of lack of building regulations indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and Skipton Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
I happen to be the single beneficiary of my late grandmother’s estate with all property in now in my sole name, including the house in Portland. The Portland property was put into my name in May. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership may be considered the same way as if I'd bought the property in May. Will no one buy the property for half a year?
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 may be impacted by that. How sensible a view mortgage companies take of it, depend on the bank as this clause primarily exists to pick up on subsales or the quick reselling of property.
We have a mortgage agreed in principle with RBS. Portland conveyancing lawyers were instructed. How long does it take for RBS to send the offer to the solicitor?
There is no definitive answer here. Have RBS done the valuation? Have you informed RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I require expedited conveyancing in Portland as I have an ultimatum to sign on the dotted line in less than one month. A mortgage is not required. Can I decline from having conveyancing searches to save fees and time?
If.Given you are are a cash purchaser you are at free not to have searches carried out although no law firm would advise that you don't. With plenty of history conveyancing in Portland the following are examples of what can crop up and adversely affect market value: Enforcement Actions, Outstanding Fees, Outstanding Grants, Railway Schemes,...
I'm purchasing a new build house in Portland benefiting from help to buy. The builders would not reduce the price so I negotiated 6k of additionals instead. The property agent told me not reveal to my lawyer about the extras as it may adversely affect my mortgage with Bank of Ireland. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a simple, no chain conveyancing. Portland is the location of the property. Is there any guidance you can give?
Flying freeholds in Portland are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Portland you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Portland 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.