I had an offer accepted on a house in Bilston and Bradley on 31/5/2019, valuation was booked 4 days later, received a clean bill of health. Property lawyer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Virgin Money and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Virgin Money conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Virgin Money to deal with your lawyer's application to be on the Virgin Money conveyancing panel. There's no guarantee that your solicitor will be accepted.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Bilston and Bradley solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Bilston and Bradley surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I have finally had an offer on an apartment in Bilston and Bradley accepted, but there is a chain. The sellers have put an offer on somewhere, but it’s not yet tied up, and have viewings of other flats booked. I have instructed a bricks and mortar conveyancing solicitor in Bilston and Bradley. What should be my next step? When do I get the mortgage application with TSB going?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then survey, Bilston and Bradley conveyancing search costs, etc). The first thing to do is check that your conveyancer is on the TSB approved list. Regarding the subsequent phase this very much depends on the circumstances of your transaction, motivation for the property and on the state of the market. During a rising market the majority of purchasers would apply for the mortgage with TSB and pay for the valuation and only if it comes back ok would they request their conveyancing practitioner to move forward with searches.
Due to the input of my in-laws I had a survey completed on a house in Bilston and Bradley in advance of retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some lenders will not grant a mortgage on such a property.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bilston and Bradley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bilston and Bradley to see if the conveyancing will be more expensive.
Am I better off to instruct a Bilston and Bradley conveyancing lawyer who is local to the property I am buying? We have a good friend who can deal with the conveyancing but his firm is located 200kilometers drive away.
The primary upside of using a high street Bilston and Bradley conveyancing firm is that you can drop in to execute documents, present your ID and apply pressure on them if necessary. They will also have local intelligence which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and in the main were content that should outweigh using an unfamiliar Bilston and Bradley conveyancing lawyer just because they are Bilston and Bradley based.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Bilston and Bradley. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Bilston and Bradley are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are purchasing in Bilston and Bradley in which case you should be looking for a Bilston and Bradley conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.
Bilston and Bradley Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
Its a good idea to find out as much as you can concerning the company managing the block as they can either make living at the property much simpler or problematic. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day issues like the tidiness of the communal areas. Ask other people if they are happy with their service. In conclusion, find out the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money. Is the freehold owned collectively by the leaseholders? What is the yearly maintenance fee and ground rent?
We are in the process of purchasing a flat in Bilston and Bradley. Could our property lawyer keep the amount we are are buying for private from the likes of Rightmove. Is this possible and how?
HM Land Registry as a matter of law required to disclose price paid information on a register of the title for residential properties nationwide which includes premises in Bilston and Bradley. The Title Register is an open document, so HMLR would be breaching their statutory duty if they failed to allow access to the register.
In essence you can make a request of the Land Registry to hide the price paid data yet the answer would be a No.