I have given 8 weeks notice to my existing landlord and must leave my let out property in Mersea Island by 8/1/2025. Conveyancing for my house purchase has just started. How realistic is it to complete in 4 weeks as don't want to have to move into short term accommodation?
The normal practice is not to give notice for your letting unless you have exchanged. If you have not previously done so, speak to your conveyancer and urge them to they chase the other side, try to a target completion date that all parties will look to achieve
My bid for a property was accepted at auction in Mersea Island. Conveyancing is needed. What are my next steps?
Given that you are now to all intents and purposes signed on the dotted line you will need to appoint a conveyancing lawyer as a matter of urgency as you will have a fast approaching a fixed date to complete the transaction. An auction property will have a bespoke auction pack. This should include most,if not all of the paperwork that your solicitor will need. Where you are dealing with leasehold property the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to a leasehold property. You must pass this on to your appointed conveyancing solicitor as soon as possible. You also need to ensure that you have funds in place to complete the transaction on the set completion date.
I happen to be the single beneficiary of my late mum's will with all property in now in my sole name, including the my former home in Mersea Island. Conveyancing formalities meant that the Land Registry date was in October. I plan to dispose of the house. I understand that there is a CML six month 'rule', meaning my proprietorship could be regarded the same way as if I'd bought the property in October. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. Some mortgage companies would take a practical view as this obligation is primarily there to pick up on subsales or the quick reselling of property.
I was told three weeks ago that my mortgage has been agreed to by Aldermore. Is it usual for Aldermore to only issue the offer once my solicitor in Mersea Island is approved on their conveyancing panel? Aldermore have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
It has been four months following my purchase conveyancing in Mersea Island concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. 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 property 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.
Over the last few months I have been searching for a flat up to £195,000 and identified one round the corner in Mersea Island I like with amenity areas and transport links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Mersea Island suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
Given that I will soon part with £400,000 on a house in Mersea Island I would like to have a conversation with the lawyer about myhouse move before giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - we would be pleased to talk to you we do not take any clients on without you liaising with the solicitor who will be conducting your conveyancing in Mersea Island.There is no ‘factory style conveyancing’ - every client is an important individual, not a matter number. The solicitors that we put you in touch with believe that the fees you are provided with for residential conveyancing in Mersea Island should be the amount on the final invoice that you are charged.