We are selling our apartment in Egremont. Will my lawyer need to be on the Skipton conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Skipton conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
This question may be naive but I am wet behind the ears as FTB of a ground floor flat in Egremont. Do I collect the keys to the property on the completion date from my conveyancer? If this is the case, I will instruct a local conveyancing solicitor in Egremont?
On the day of completion you do not need to attend the conveyancers office in Egremont. Your solicitors will arrange to send the completion advance to the seller's solicitors, and once they have received this, you should be invited to collect the keys from the selling Agents and start moving into the property. Usually this happens early afternoon.
I happen to be the only beneficiary of my late father’s estate and I have everything in my name alone, including the my former home in Egremont. The Egremont property was put into my name in November. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership could be treated the same way as if I'd bought the property in November. Is the property unsalable for six months?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. How sensible a view banks take of it, depend on the lender as this provision is chiefly there to capture subsales or the flipping of property.
We have agreed to purchase a house in Egremont. One unusual aspect is that the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with HSBC your lawyer must check the formal requirements outlined in Section 2 of UK Finance Lenders’ Handbook for HSBC. The CML Handbook stipulates minimum specifications for solar panel roof-space leases, and lawyers are required to report to HSBC where a lease fails to satisfy these conditions. The provisions relate to the installation of panels on properties in England and Wales and is not limited to Egremont.
I am buying my first flat in Egremont with a mortgage from Nationwide Building Society. The sellers would not budge the price so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not to tell my lawyer about this extras as it will adversely affect my loan with Nationwide Building Society. Do I keep my lawyer in the dark?.
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.
In my capacity as executor for the will of my father I am disposing of a house in Cardiff but I am based in Egremont. My conveyancer (approximately 235 miles from mehas requested that I execute a stat dec ahead of completion. Could you suggest a conveyancing lawyer in Egremont who can attest and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are Egremont based
When it comes to my conveyancing in Egremont should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Egremont conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancer's time in submitting the funds this way.