I happen to be the only recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Wooler. The Wooler property was put into my name in April. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', meaning my proprietorship could be treated the same way as if I'd bought the house in April. 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." By the strict wording you may be caught by that. How sensible a view lenders take of it, depend on the bank as this obligation is chiefly there to capture subsales or the flipping of property.
When it comes to lenders such as Coventry BS, do Wooler solicitors incur a yearly amount to be on the list of approved solicitors?
We are not aware of any mortgage company fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
My partner and I have arranged a further advance on our home loan from TSB as we intend to carry out a loft conversion to our home in Wooler. Are we obliged to choose a bricks and mortar Wooler solicitor on the TSB conveyancing panel to handle the paperwork?
TSB do not ordinarily appoint a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the TSB list.
Despite weeks of looking the Title Certificate and documents to our home are lost. The conveyancers who dealt with the conveyancing in Wooler 5 years ago no longer exist. What are my options?
As long as you have a registered title the details of your ownership will be recorded by HMLR with a Title Number. It is easy to conduct a search at the Land Registry, locate your house and secure current copies of the property title for a small fee. Where the property is Leasehold then the Land Registry will usually hold a file copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
I'm buying a new build house in Wooler benefiting from help to buy. The developers refused to budge the amount so I negotiated £7000 of additionals instead. The property agent suggested that I not disclose to my conveyancer about this extras as it would adversely affect my mortgage with the lender. 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, chain free conveyancing. Wooler is where the house is located. Can you offer any guidance?
Flying freeholds in Wooler are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wooler you must be sure that your lawyer goes 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 Wooler may decide 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.
I own a leasehold flat in Wooler. Conveyancing and Skipton Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Wooler who acted for me is not around. Any advice?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the new freeholder. There is no need to instruct a Wooler conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a garden flat in Wooler, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Wooler with over 90 years remaining are worth £227,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2098
You have 72 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
What are my options where I am unhappy with the conveyancing practitioner who handled my conveyancing in Wooler?
Occasionally the level of service you receive is not as you expect, and is is a fact of life that occasionally matters do not go as planned. That being said there is recourse if you were unhappy with your conveyancing in Wooler. This varies from trying to resolve matters directly with them, through to reporting a lawyer to their regulator. If you remain unhappy you may consider enlisting the help of the Legal Ombudsman.