I am acquiring a property mortgage free in Banwell. I have resided for the last 15 years in Banwell. Conveyancing searches are exorbitant. As I have knowledge of the road and vicinity very well must I have all the conveyancing searches?
In the absence of a home loan, then the vast majority of the Banwell conveyancing searches are non-obligatory. Your lawyer will ’encourage you, no-doubt strongly, that you should have searches completed, but she is duty bound to do this. Do bear in mind; if you are going to dispose of the house at a future date, it will be of relevance to your future buyer what the searches determine. On occasion premises with day to day issues can still reveal unfavourable search results. A good conveyancing solicitor in Banwell should provide you some constructive advice in this regard.
My uncle informed me that in purchasing a property in Banwell there may be various restrictions affecting the ability to carry out external changes to the property. Is this right?
We are aware of a number of properties in Banwell which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Banwell should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My partner and I have organised a further advance on our mortgage from Nationwide as we wish to carry out improvements to our house in Banwell. Do we need to select a bricks and mortar Banwell solicitor on the Nationwide conveyancing panel to handle the legals?
Nationwide don't usually require a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide panel.
I have a mortgage with Virgin Money for my property in Banwell. Conveyancing has been completed 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Virgin Money?
Virgin Money must be informed of your intention before letting out your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel firm.
I need some fast conveyancing in Banwell as I have pressure to sign on the dotted line inside one month. Thankfully I do not require a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
As you are not taking a mortgage you are at liberty not to do searches although no law firm would recommend that you don't. With plenty of history conveyancing in Banwell the following are examples of issues that can arise and therefore affect future saleability: Refused Planning Applications, Outstanding Charges, Overdue Grants, Unadopted Roads,...
I have todaybeen informed that Action Conveyancing have been shut down. They carried out my conveyancing in Banwell for a purchase of a leasehold apartment 18 months ago. How can I check that the property is registered correctly in the name of the former proprietor?
The quickest method to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Banwell conveyancing specialists.
How does conveyancing in Banwell differ for newly converted properties?
Most buyers of new build premises in Banwell approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because house builders in Banwell typically buy the site, 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 conveyancing solicitors 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 used to new build conveyancing in Banwell or who has acted in the same development.