I have an AIP. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to appoint their panel lawyer as I would much rather use a Aston on Trent based conveyancing firm?
You should check but the chances are that appoint one of their panel lawyers should you accept the "fee-free" incentive. Call the mortgage company to explore if they make available a cash alternative. In the past a few lenders offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor near Aston on Trent.
I am the sole beneficiary of my late mum's estate and I have everything in my name now, including the house in Aston on Trent. Conveyancing formalities meant that the Land Registry date was in June. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership will be treated the same way as if I'd bought the property in June. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ 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. many banks would take a practical view as this obligation is primarily there to capture the purchase and immediately sell or the wholesaling and assigning of properties.
I'm at the point of viewing houses in Aston on Trent and I am about to put in an offer. Should I already have a property lawyer appointed at this point? I intend to finance via a mortgage with Leeds Building Society.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are taking out a mortgage with Leeds Building Society, ask your prospective lawyers if they are on the Leeds Building Society conveyancing panel otherwise they can't do the mortgage legal work.
Intending to buy a house in Aston on Trent. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nottingham conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Aston on Trent property lawyer is on the Nottingham conveyancing panel.
I'm purchasing my first flat in Aston on Trent benefiting from help to buy. The developers refused to budge the price so I negotiated £7000 of additionals instead. The house builders rep advised me not to tell my solicitor about this deal as it may affect my mortgage with the bank. 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.
I'm converting the mortgage on my primary property to a buy to let loan with Bank of Scotland and intend to use the remaining equity towards a second house. The neighborhood we are interested in is Aston on Trent. Will your conveyancers be able to act for the two banks and link together the two deals?
Make use of our comparison tool on this page to ensure that the lawyers are approved by both mortgage companies. Assuming that they are your solicitor should be able to simultaneously deal with the two transactions but you should have a chat with you conveyancer and make apparent your expectations and needs.
My partner has recommend that I appoint his lawyers for conveyancing in Aston on Trent. Should I use them?
No doubt the ideal way to select a conveyancing lawyer is to seek feedback from friends or relatives who have experience in using the conveyancer you're contemplating using.