Is it the case that all Culcheth solicitor firms on the Virgin Money conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Virgin Money approved list of solicitors they would need to be overseen by the SRA. Some lenders do permit licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.
I currently have a mortgage with Kent Reliance for my property in Culcheth. Conveyancing has been completed a year 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 Kent Reliance?
Kent Reliance must be informed of your intention before renting your property as this is likely to be a breach of Kent Reliance’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 Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel solicitor.
I have instructed a Culcheth property lawyer having made sure that they are on the Lloyds conveyancing panel. Does my lawyer arrange the survey of the property?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds 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 Culcheth 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 am purchasing my first flat in Culcheth with the aid of help to buy. The builders would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The property agent told me not to tell my solicitor about this side-deal as it may jeopardize my loan 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.
I opted to have a survey completed on a property in Culcheth before retaining solicitors. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some lenders may refuse to issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you e-mail us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Culcheth. Conveyancing may be slightly more expensive based on your lender's requirements.
What are your top tips when it comes to finding a Culcheth conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Culcheth conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Culcheth conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
If the firm is not ALEP accredited then why not? What are the charges for lease extension work?
Culcheth Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
Is there a share of the freehold? The majority of Culcheth leasehold properties will be liable to pay a service bill for maintenance of the building set on behalf of the landlord. Should you purchase the apartment you will have to pay this charge, normally in instalments accross the year. This may differ from several hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all probability there will be a rentcharge to be met annual, ordinarily this is not a significant figure, say approximately £25-£75 but you should to check it because occasionally it can be many hundreds of pounds. What is the length of the lease?
We are considering using a web based conveyancing practitioner rather than a Culcheth conveyancing practice. Any advice?
Various benefits exist in having the option visit a local Culcheth conveyancing solicitor for instance
- signing documents same day
- sometimes being able to speak to someone face-to-face can make a huge difference, particularly for more complex house moves
- the ability to raise concerns if things are not going as expected
When analysing estimates, look carefully for hidden extras. Most decent Culcheth high street solicitors give an all-inclusive price. Often online companies appear to offer cheap fees, but have burried 'extras' in the in the terms and conditions.