Why do I have to pay up front when it comes to conveyancing in South Hornchurch?
If you are buying a property in South Hornchurch your solicitor will ask you place them with monies to cover the search fees. Generally this is requested to cover the fees of the conveyancing searches. When the deposit is as part of the purchase price then this should be needed shortly prior to exchange of contracts. The closing balance that is due should be transferred shortly before completion.
My grandmother passed away six months ago and as sole heir and executor I was left the property in South Hornchurch. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this allowed?
If you plan to refinance then Yorkshire BS will insist on your using a conveyancer on the Yorkshire BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Yorkshire BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Yorkshire BS mortgage is registered as a charge at the Land Registry.
I'm the only recipient of my late mum's will with all property in now in my sole name, including the my former home in South Hornchurch. Conveyancing formalities meant that the Land Registry date was in March. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my property ownership could 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 CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. many lenders would take a pragmatic view as this provision principally exists to pick up on subsales or the wholesaling and assigning of properties.
Does a directory service exist listing Clydesdale panel conveyancers in South Hornchurch on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association websites. Very few lenders make their panel listings visible on the web. If you are looking for a South Hornchurch conveyancing practitioner on the Clydesdale please make the most of our facility.
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local South Hornchurch solicitor - who is on the Nottingham conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham 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 South Hornchurch 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.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when purchasing a house in South Hornchurch?
Unless a prior purchase of the premises took place after 12 October 2013 you can assume that conveyancing practitioners delivering conveyancing in South Hornchurch to remain encouraging a chancel search and or insurance against a claim.
How does conveyancing in South Hornchurch differ for new build properties?
Most buyers of new build or newly converted property in South Hornchurch approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in South Hornchurch typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in South Hornchurch or who has acted in the same development.
I am looking for a leasehold apartment up to £245,000 and identified one close by in South Hornchurch I like with open areas and station in the vicinity, however it's only got 61 years on the lease. I can't really find anything else in South Hornchurch for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan that many years will likely be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.