Can you help? My Penn and Ettingshall solicitor is assuring me that he has toapply for Penn and Ettingshall conveyancing searches stemming from the fact thatthe firm are on the Santanderconveyancing panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Penn and Ettingshall conveyancing searches.
My lawyer has informed me that flying freehold insurance is necessary on my purchase. What is the level of cover for Penn and Ettingshall conveyancing?
The right level of flying freehold indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and The Royal Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such policies.
I'm the single recipient of my late father’s estate with all property in now in my sole name, including the my former home in Penn and Ettingshall. Conveyancing formalities meant that the Land Registry date was in November. I want to move. I understand that there is a CML six month 'rule', which means that my proprietorship will be considered the same way as if I'd bought the house in November. Do I have to wait 6 months to sell?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. Some mortgage companies would take a sensible view as this clause chiefly exists to identify subsales or the flipping of properties.
I have paid off my mortgage with UBS. I assume I don't need a Penn and Ettingshall lawyer on the UBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I got the keys to my apartment on 11 October and the transaction details is yet to be registered. Should I be concerned? My conveyancing solicitor in Penn and Ettingshall said it will be concluded in a couple of weeks. Are titles in Penn and Ettingshall uniquely lengthy to register?
As far as conveyancing in Penn and Ettingshall registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can adjust depending on who lodges the application, whether it is in order and whether the Land registry need to notify any 3rd parties. As of today approximately 80% of such applications are fully dealt with within two weeks but some can be subject to extensive hold-ups. Historically registration occurs once the buyer is living at the property therefore 'speed' is not always an essential issue but where there is a degree of urgency associated with the registration then you or your solicitor should contact the land registry and explain the circumstances.
How does conveyancing in Penn and Ettingshall differ for new build properties?
Most buyers of new build property in Penn and Ettingshall contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Penn and Ettingshall usually buy the land, 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 Penn and Ettingshall or who has acted in the same development.
I decided to have a survey completed on a house in Penn and Ettingshall before instructing lawyers. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some lenders tend refuse to give a loan on this type of premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Penn and Ettingshall. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Penn and Ettingshall to see if the conveyancing costs will increase in light of this.