Why do I have to pay up front when it comes to conveyancing in Marshalls Park?

If you are buying a property in Marshalls Park your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. Generally this is requested to cover the fees of the Local Authority Search. If any deposit is payable against the total price then this should be needed immediately before exchange of contracts. The closing balance that is needed should be transferred shortly before completion.

This question may be naive but I am unseasoned as FTB of a garden flat in Marshalls Park. Do I pick up the keys to the house on the completion date from my solicitor? If this is the case, I will use a local conveyancing solicitor in Marshalls Park?

There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the owner’s solicitors, and once they have received this, you should be called to receive the keys from the Estate Agents and start moving into the property. Usually this occurs early afternoon.

I am the only recipient of my late grandmother’s will and I have everything in my name now, including the my former home in Marshalls Park. Conveyancing formalities meant that the Land Registry date was in October. I plan to dispose of the property. I understand that there is a CML 6 month 'rule', meaning my property ownership could be considered the same way as if I'd bought the property in October. Do I have to wait half a year to sell?

The Council of Mortgage Lenders’ handbook obliges conveyancers 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 affected by that. Most mortgage companies would take a practical view as this provision primarily exists to pick up on the purchase and immediately sell or the flipping of properties.

is it true that all Marshalls Park solicitor practices on the Santander conveyancing panel are governed by the SRA?

As a firm of solicitors, in order to be on the Santander approved list of solicitors they would need to be regulated by the SRA. The majority of mortgage companies do permit licenced conveyancers on their panel and in that case the practice would be governed by the CLC.

Should our solicitor be asking questions concerning flooding as part of the conveyancing in Marshalls Park.

The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Marshalls Park. There are those who acquire a property in Marshalls Park, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Lawyers are not best placed to impart advice on flood risk, however there are a various searches that can be carried out by the purchaser or by their solicitors which can give them a better understanding of the risks in Marshalls Park. The conventional set of completed inquiry forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the seller to determine whether the property has suffered from flooding. In the event that flooding has previously occurred which is not notified by the seller, then a purchaser could commence a compensation claim as a result of such an incorrect response. A purchaser’s solicitors will also carry out an enviro report. This should higlight if there is any known flood risk. If so, more detailed investigations will need to be conducted.

Just had an offer accepted on a new build apartment in Marshalls Park. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Marshalls Park

Please confirm the Lease plans are surveyor prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants.

Due to the encouragement of my in-laws I had a survey completed on a property in Marshalls Park ahead of appointing solicitors. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies will not issue a loan on a flying freehold property.

It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Marshalls Park. Conveyancing may be slightly more expensive based on your lender's requirements.