I'm in the process of switching my domestic loan to a BTL Santander mortgage. The bank has said that I require a solicitor as part of the process. I spoke to the same Bodelwyddan conveyancing firm who who did the conveyancing when I first bought the property. The pricing estimate provided of £470 has surprised me as its a refinance than a sale or purchase.
The estimate does seem a tad overpriced. If you shop around you might get the conveyancing a bit cheaper by perhaps £125. That being said, providing that you were satisfied with the service the firm provided you mightlive to regret choosing an an unknown conveyancer. Don't forget to ensure the conveyancer can act for Santander. Do make use of our search tool to choose a Bodelwyddan conveyancing firm on the Santander approved list of lawyers, which can often include conveyancing solicitors in Bodelwyddan.
I do hope you can assist me. My Bodelwyddan conveyancer is advising me that he is legally obliged toconduct Bodelwyddan conveyancing searches resulting from the fact thatthe firm are on the Nat Westsolicitor panel. Is my solicitor right?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a bank your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Bodelwyddan conveyancing searches.
I require expedited conveyancing in Bodelwyddan as I am faced with a deadline to sign on the dotted line in less than 4 weeks. Fortunately I do not need a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
As you are are a cash buyer you have the choice not to do searches although no solicitor would advise that you don't. Drawing on years of experience of conveyancing in Bodelwyddan the following are examples of what can arise and adversely affect future mortgageability: Enforcement Actions, Outstanding Fees, Outstanding Grants, Railway Schemes,...
Are there restrictive covenants that are commonly picked up during conveyancing in Bodelwyddan?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Bodelwyddan. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying my first flat in Bodelwyddan benefiting from help to buy. The builders refused to move on the price so I negotiated £7000 of extras instead. The property agent advised me not disclose to my lawyer about the side-deal as it would adversely affect my loan with Virgin Money. Is this normal?.
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.