I happen to be the sole recipient of my late grandmother’s will with all property in now in my sole name, including the my former home in Eccleshall. The Eccleshall property was put into my name in . I now wish to sell up. I understand that there is a CML 6 month 'rule', meaning my property ownership may be treated the same way as if I'd bought the property in . Do I have to wait 6 months to sell?
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 may be affected by that. Some mortgage companies would take a sensible view as this provision is primarily there to pick up on subsales or the wholesaling and assigning of property.
is it true that all Eccleshall solicitor practices on the conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the approved list of solicitors they would need to be overseen by the SRA. Some banks do allow licenced conveyancers on their panel and in that case the firms would be governed by the CLC.
The formalities of my purchase has taken place for my property in Eccleshall. Conveyancing was a necessary evil but I would like to complain about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
four months have gone by since my purchase conveyancing in Eccleshall took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Eccleshall differ for new build properties?
Most buyers of new build or newly converted property in Eccleshall approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Eccleshall usually purchase the site, 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 conveyancers 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 used to new build conveyancing in Eccleshall or who has acted in the same development.
I decided to have a survey completed on a house in Eccleshall ahead of instructing solicitors. I have been told that there is a flying freehold element to the house. The surveyor has said that some mortgage companies tend refuse to grant a loan on a flying freehold home.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. Should you wish to telephone us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Eccleshall. Conveyancing will be smoother if you use a solicitor in Eccleshall especially if they are acquainted with such properties in Eccleshall.
I acquired a 1st floor flat in Eccleshall, conveyancing was carried out in 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Eccleshall with over 90 years remaining are worth £165,000. The ground rent is £45 yearly. The lease ends on 21st October 50
With 50 years remaining on your lease we estimate the premium for your lease extension to be between £36,100 and £41,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.