We previously instructed solicitors based in Carshalton Beeches on the Coventry BS solicitor approved list. They are now charging me a separate sum for the legal aspects of the Coventry BS mortgage. Is this an additional conveyancing fee specified by Coventry BS?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your solicitor is entitled to levy a fee for this. The charge is not set by Coventry BS but by your Carshalton Beeches conveyancer. Some firms on the Coventry BS panel will quote ’dealing with mortgage’ fee and others do not.
The mortgage over my property is with HSBC for my property in Carshalton Beeches. Conveyancing has been completed 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
Your original mortgage agreement with HSBC will provide that you need their approval in advance of renting your property as this is likely to be a breach of HSBC’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 HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel firm.
Coventry BS have agreed my mortgage in principle, my offer on a apartment in Carshalton Beeches has been agreed to, what happens next?
Your property agent will need to know who your solicitors are (make sure the lawyers are on the lender’s approved list). Telephone Coventry BS or the financial adviser and finish off any outstanding forms. Coventry BS will sellect a valuer who will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes approximately a week to get a mortgage offer. Coventry BS will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Carshalton Beeches.
It has been five months following my purchase conveyancing in Carshalton Beeches completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Carshalton Beeches benefiting from help to buy. The developers would not reduce the price so I negotiated 6k of additionals instead. The estate agent suggested that I not disclose to my solicitor about the deal as it will affect my mortgage with Godiva Mortgages Ltd. 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've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Carshalton Beeches is where the house is located. Can you offer any opinion?
Flying freeholds in Carshalton Beeches are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Carshalton Beeches you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Carshalton Beeches 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 residence.
My wife and I have hit a brick wall in seeking a lease extension in Carshalton Beeches. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the price.
An example of a Freehold Enfranchisement case for a Carshalton Beeches premises is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case related to 3 flats. The unexpired term was 75 years.
Are there common deficiencies that you come across in leases for Carshalton Beeches properties?
Leasehold conveyancing in Carshalton Beeches is not unique. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
Insurance obligations Repairing obligations to or maintain elements of the building
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Bank of Scotland, and Barclays Direct all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.