I currently have a mortgage with Nottingham for my property in Canton. Conveyancing was finalised some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Nottingham?
You must advise Nottingham in advance of renting your property as this is likely to be a breach of Nottingham’s mortgage conditions. It may be that Nottingham will permit you to let 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 Nottingham directly. It should not be necessary to do this via a Nottingham conveyancing panel lawyer.
I am due to exchange contracts on my house. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Co-operative are being difficult. The Canton solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are requiring a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Having digested plenty 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 Canton solicitor - who is on the Kent Reliance conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance 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. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Canton postcode. As you are getting a mortgage with Kent Reliance, you could contact them to see if they have a list of approved surveyors in Canton.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The conveyancers who handled the conveyancing in Canton 5 years ago are no longer around. What are my next steps?
Gone are the days when you need to hold title official documentation to prove you own the land or property, as the Land Registry hold details of all registered land or property electronically.
I'm purchasing a new build house in Canton with a mortgage from The Mortgage Works. The developers would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not reveal to my solicitor about this deal as it would adversely affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Canton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Canton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Canton you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Canton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
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At this site get an accurate quote via a Solicitor or Licensed Conveyancer that understands the nuances for your conveyancing in Canton. Unlike many estate agents and many comparison sites we do not have kick-back deals with solicitors. Many agents and online brokers 'recommend' the firm that pays the highest kickback, not the best value conveyancing in Canton