I am under pressure from the seller of a property in Honiton to complete within four weeks. What can I do to speed up matters?
In a situation where you are under pressure to sign contracts it is advisable to make sure that your conveyancer is familiar with the location as they will benefit local contacts and insight. It is even conceivable that they could have conducted otherproperties in the same road. Therefore consider using a Honiton conveyancing firm. Second, check that the lawyer is on the on the approved list for your mortgage company. It is understood that just under twenty per cent of Honiton conveyancing deals are frustrated or jeopardised after discovering a buyer’s lawyer was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the home move being held up by an average of three weeks. It is estimated that this issue affects in the region of one hundred thousand home moves every year. Many Honiton conveyancing firms can not represent certain mortgage companies so do check as early as possible.
I'm the single beneficiary of my late mum's estate with all property in now in my sole name, including the my former home in Honiton. Conveyancing formalities meant that the Land Registry date was in September. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership could be treated the same way as though I had purchased the house in September. 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 might be caught by that. How sensible a view banks take of it, depend on the bank as this provision chiefly exists to capture the purchase and immediately sell or the flipping of properties.
Is it the case that all Honiton CQS (Conveyancing Quality Scheme) solicitors are on the Clydesdale conveyancing list of approved solicitors?
Some major lenders now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
Coventry BS have agreed my home loan in principle, my bid on a house in Honiton has been accepted, now what?
Your property agent will need to know who your solicitors are (ensure that the property lawyers are on the bank’s approved list). Contact Coventry BS or your broker and complete any relevant paperwork. Coventry BS will sellect a valuer who will get in contact with the estate agent or vendor to schedule a slot for the valuation to occur. Once conducted (assuming no problems) it takes about ten days to receive the mortgage offer. Coventry BS will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Honiton.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one close by in Honiton I like with open areas and transport links nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Honiton suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan that many years will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I was pointed in your direction by a few property agents in Honiton to find a solicitor using your seach tool. Is there a financial upside for Estate Agents to market your lawyers over and above another?
We don’t make any referral fee for sending work to this site. We thought it would be too underhand to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Should I choose a Honiton conveyancing practitioner in close proximity to the house I am hoping to buy? We have a good friend who can perform the conveyancing but they are based approximately 350kilometers away.
The primary upside of using a local Honiton conveyancing firm is that you can visit the firm to execute paperwork, present your ID and pester them where appropriate. They will also have local knowledge which is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and on the whole were impressed that must trump using an unknown Honiton conveyancing lawyer solely due to them being based in the area.