Despite weeks of looking the Title Certificate and documents to my house are lost. The lawyers who handled the conveyancing in Alderley Edge 4 years ago are no longer around. What are my next steps?
These day there are copies made of almost everything, and your lawyer should be aware precisely where to locate all the appropriate paperwork so you may purchase or dispose of your property without any difficulty. Where copies can’t be located, your solicitor may be able to arrange cover in the form of insurance or indemnities protecting you against future claims on your property.
I am buying my first flat in Alderley Edge with a mortgage from Barnsley Building Society. The developers would not budge the price so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not inform my solicitor about the deal as it will adversely affect my mortgage with Barnsley Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the advice of my in-laws I had a survey completed on a property in Alderley Edge in advance of retaining solicitors. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some lenders tend not issue a mortgage on such a house.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. If you call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Alderley Edge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Alderley Edge to see if the conveyancing will be more expensive.
Do I need to be suspicious by third parties that I am dealing with are recommending a factory type conveyancing firm rather than a High Street Alderley Edge conveyancing firm?
As is the case with lots of service providers, often recommendations from relatives can be most helpful. But there are numerous players in a conveyancing matter; estate agents, mortgage brokers and mortgage companies might all suggest solicitors to select. On occasion these lawyers might be known to one of the organisations as being good in their field, but occasionally there exists a financial incentive behind the recommendation. You have the right to select your own lawyer. Don't forget that many banks have an approved list of solicitors you must use for the mortgage aspect of your home move.
One month into buying a property in Alderley Edge. Conveyancing solicitor has phoned to say the title is "Leasehold". Does this make a difference on our home loan valuation?
Alderley Edge conveyancing does not usually involve leasehold houses. The key consideration here is the length of lease and the ground rent. If there are over a hundred years remaining with a peppercorn rent, it's virtually freehold, so it’s unlikely to affect the saleability too much.
At the other extreme, if it's, say, fifty five years it will have a significant impact on the value, and most likely wouldn't be acceptable to the lender. The remaining lease term and ground rent will be set out in the lease to be supplied to your solicitor.