I am expecting a mortgage offer from Nat West. My intention is to employ the services of a Licensed Conveyancer in Markyate. Does the Nat West Solicitor panel include Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
It is 10 years ago since I bought my home in Markyate. Conveyancing lawyers have just been retained on the sale but I can't track down the deeds. Is this a problem?
Don’t worry too much. First the deeds may be with your lender or they may still be with the conveyancers who oversaw the purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring current official copies of the land registers. Most conveyancing in Markyate involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is resolvable.
We are planning to move home in February. Will my conveyancing solicitor liaise with the removal company on the day of completion. As an aside, can you suggest a removal company in Markyate. Conveyancing solicitor was found before I stumbled across this site.
On the day of completion you can pick up the house keys from your property agent however this should only take place once the vendors solicitors confirm to the agent that they have the completion monies and the keys can be released. After that you will need to tell the removal company that you are ready to move in. We are not in a position to recommend a specific removal organisation but can assist you in choosing a residential property solicitor in Markyate or a legal practice that specialises in conveyancing in Markyate.
I am the sole recipient of my late grandmother’s will with all property in now in my sole name, including the house in Markyate. Conveyancing formalities meant that the Land Registry date was in October. I want to move. I understand that there is a CML six month 'rule', which means that my property ownership may be considered the same way as if I'd bought the house in October. Will no one buy the property for half a year?
The CML handbook mandates 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 affected by that. How sensible a view banks take of it, depend on the bank as this provision principally exists to capture the purchase and immediately sell or the wholesaling and assigning of property.
I can not fathom if my lender requires a lease extension. I have called my Markyate bank branch on a couple of occasions and was reassured it wasn't a problem and they will lend. My Markyate conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend based on their published requirements. Who do I believe?
Provided that the conveyancing practitioner is on the bank panel, they must follow the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have been told that property searches are a common cause of delay in Markyate house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to feature in any slowing down conveyancing in Markyate.
I got the keys to my flat on 9 August and the transaction details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in Markyate advises it would be concluded in less than a month. Are properties in Markyate particularly slow to register?
There is nothing unique when it comes to conveyancing in Markyate registration formalities. As opposed to being determined by geographic area, timeframes can vary subject to the party submitting the application, whether there are errors and if the Land registry communicate with any interested parties. As of today in the region of three quarters of submission are fully dealt with within two weeks but occasionally there can be protracted delays. Historically registration is effected once the purchaser is living at the premises so post completion formalities is not usually primary concern but if it is urgent that the the registration takes place urgently then you or your lawyers can contact the land registry and explain the circumstances.