It has come to my attention via my mortgage adviser that my Falconwood solicitor is not on the bank Solicitor panel. How can I be certain whether this is indeed the case?
You need to call your Falconwood lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.
We just had an offer accepted to buy with Melton Mowbray Building Society. I dropped in a few local firms yet cant to find a Falconwood conveyancing firm on the Melton Mowbray Building Society approved list. Could you help?
You should make the most of the find a conveyancing panel solicitor tool on this web page. Pick the mortgage company and type Falconwood or your location and you will be presented with a number of lawyer located in Falconwood or near you.
A relative pointed out to me me that in purchasing a property in Falconwood there may be various restrictions preventing external changes to the property. Is this right?
There are a number of properties in Falconwood which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Falconwood should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have a mortgage with Clydesdale for my property in Falconwood. Conveyancing was finalised some time ago. Should I wish 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 Clydesdale?
You must advise Clydesdale in advance of renting your property as this is likely to be a breach of Clydesdale’s mortgage conditions. It may be that Clydesdale 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 Clydesdale directly. It should not be necessary to do this via a Clydesdale conveyancing panel firm.
I have instructed a Falconwood property lawyer having made sure that they are on the Aldermore conveyancing panel. Does my lawyer arrange the survey of the property?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore 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 Falconwood 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.
Are there restrictive covenants that are commonly identified as part of conveyancing in Falconwood?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Falconwood. 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…’
How does conveyancing in Falconwood differ for newly converted properties?
Most buyers of new build residence in Falconwood approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Falconwood tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Falconwood or who has acted in the same development.