Have just purchased a probate house at auction in Southam. Conveyancing is required. What are my next steps?

Having legally bound yourself to purchase you should find a conveyancing solicitor quickly as you are faced with a fast approaching a drop dead date to complete the conveyancing. All auction property will have an associated legal set of papers. This will include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the auction pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You should hand this to your appointed conveyancing solicitor ASAP. 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 recipient of my late grandmother’s will and I have everything in my name alone, including the my former home in Southam. The Southam property was put into my name in January. I plan to dispose of the property. I understand that there is a CML six month 'rule', which means that my property ownership will be regarded the same way as if I'd bought the property in January. 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." By the strict wording you could be impacted by that. How practical a view lenders take of it, depend on the lender as this clause is principally there to capture the purchase and immediately sell or the quick reselling of property.

Is there a list of TSB panel solicitors in Southam on the UK Finance Lenders’ Handbook Website?

No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lending institutions make their panel listings viewable on the web. If you are seeking to appoint a Southam property lawyer on the TSB please use our facility.

How does conveyancing in Southam differ for newly converted properties?

Most buyers of new build or newly converted property in Southam come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Southam tend to purchase 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 property lawyers 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 accustomed to new build conveyancing in Southam or who has acted in the same development.

I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Southam is the location of the property. Can you offer any guidance?

Flying freeholds in Southam are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Southam you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Southam 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 premises.

We're FTB’s - had an offer accepted, yet the property agent advised that the vendor will only go ahead if we appoint their preferred conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a local conveyancer accustomed to conveyancing in Southam

It is improbable the vendors are behind this. Should the seller require ‘a quick sale', taking such a hostile approach to a motivated buyer is counter productive. Speak to the vendors direct and make sure they comprehend that (a)you are motivated purchasers (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you intend to appoint your own,trusted Southam conveyancing solicitors - rather thanthose that will give the negotiator at the agency a commission or meet his conveyancing figures set by senior management.

My wife and I purchased a leasehold flat in Southam. Conveyancing and Norwich and Peterborough Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Southam who previously acted has now retired. What should I do?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Southam conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Southam Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

Many Southam leasehold apartments will be liable to pay a service charge for maintenance of the building set by the management company. Where you buy the property you will have to pay this charge, normally periodically during the year. This could be anything from a few hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a rentcharge to be met annual, this is usually not a exorbitant sum, say approximately £50-£100 but you need to enquire as sometimes it could be many hundreds of pounds. You should be aware that where the lease has no more than eighty years it will affect the value of the flat. It is worth checking with your bank that they are happy with residual term of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of how much this will be. For most Southamlease extensions you would be required to have been the owner of the property for a couple of years in order to be eligible to exercise a lease extension. Make sure you find out if there are any onerous restrictions in the lease. For instance it is very common in Southam leases that pets are not permitted in in a block in Southam. If you love the flatin Southam yet your dog is not allowed to live with you then you will be presented with a hard choice.