I am obtaining a mortgage with Lloyds. I hope to instruct a Licensed Conveyancer in Feltwell. Does the Lloyds Conveyancing panel exclude conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Feltwell. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 17/7/2019, the requirements read as follows :
I have a mortgage with Santander for my property in Feltwell. Conveyancing has been completed 12 months ago. If I am intending 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 Santander?
Santander must be informed of your intention before letting out your property as this is likely to be a breach of Santander’s mortgage conditions. It may be that Santander 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 Santander directly. You need not do this via a Santander conveyancing panel firm.
I recently had an offer agreed on a house in Feltwell. My financial adviser suggested a conveyancing practitioner. I paid an advanced payment of £175. A couple of days later, the solicitor contacted me sheepishly admitting that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
At last I have had an offer on a maisonette in Feltwell agreed to, the sellers do nevertheless have a tied purchase. The vendors have offered on somewhere, but it’s not yet tied up, and are looking at other properties booked. I have instructed a local conveyancing solicitor in Feltwell. What do I do now? At what stage do I apply for the mortgage with Aldermore?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx £1k, then valuation, Feltwell conveyancing search fees, etc). The first thing to do is ensure that your conveyancing practitioner is on the Aldermore approved list. Regarding the next phase this very much dictated by the circumstances of your case, desire for the property and on the state of the market. During a buoyant market many home buyers would apply for a home loan with Aldermore and pay for the valuation and only if it comes back ok would they ask their property lawyer to proceed with the conveyancing in Feltwell.
I am buying my first flat in Feltwell with a loan from Godiva Mortgages Ltd. The sellers would not move on the amount so I negotiated 6k of additionals instead. The property agent advised me not reveal to my conveyancer about the deal as it may impact my mortgage with the lender. 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 am looking for a flat up to £245,000 and identified one round the corner in Feltwell I like with open areas and transport links nearby, however it only has 61 years on the lease. There is not much else in Feltwell suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan the shortness of the lease will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.