I happen to be the only beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Tilbury. The Tilbury property was put into my name in February. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship could be regarded the same way as though I had purchased the house in February. Will no one buy the property for half a year?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. How practical a view banks take of it, depend on the mortgage company as this clause is chiefly there to pick up on subsales or the wholesaling and assigning of properties.
We expect to receive a AIP from Santander this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Santander recommend any Tilbury solicitors on the Santander conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Tilbury solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
I was told three weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Tilbury is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
My wife and I are selling our home in Tilbury and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any local conveyancer would know this is not the case. It does beg the question why the buyers are using a factory type conveyancing outfit as opposed to a conveyancing solicitor in Tilbury. Having lived in Tilbury for three years we know of no issue. Do we get in touch with our local Authority to obtain confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Over the last few months I have been searching for a leasehold apartment up to £305k and found one near me in Tilbury I like with amenity areas and station nearby, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Tilbury suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage that many years will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
Do I need to be suspicious that third parties that I am dealing with are suggesting a factory type conveyancing firm as opposed to a local Tilbury conveyancing company?
As is the case with many service providers, often input from family and friends can be extremely useful or valuable. Yet there are lots of players in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all put forward lawyers to appoint. On occasion the conveyancers might be known to one of the organisations as being good in their field, but sometimes there may be a commercial relationship behind the endorsement. You have the right to select your preferred lawyer. You need to be aware that most lenders operate an approved list of solicitors you have to use for the mortgage related work in your conveyancing.
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it more attractive. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Tilbury. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
Most houses in Tilbury are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Tilbury in which case you should be looking for a Tilbury conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.
Tilbury Leasehold Conveyancing - A selection of Questions you should ask before buying
Are there any major works in the near future that could increase the service charges? Does the lease have onerous restrictions? How much is the annual maintenance fee and ground rent?
I am thinking of choosing a web based property lawyer as opposed to a Tilbury conveyancing firm. Am I making a mistake?
There are advantages of being able to visit a local Tilbury conveyancing solicitor such as
- signing papers same day
- sometimes being able to speak to someone face-to-face can make a huge difference, particularly for more complex transactions
- the ability to complain if matters go pear-shaped
When checking quotes, look carefully for hidden extras. Most decent Tilbury high street solicitors give an all-inclusive figure. Often online agents seem to offer discounted prices, but have hidden 'extras' in the small print.