My solicitor has uncovered a defect with the lease for the property we are buying in Gatley. The other side have offered title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancer says that he must ensure that the mortgage company is happy with this solution. Are we the client or is the mortgage company ?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. The appropriate lender conditions have to be complied with.
I have a decision in principle. The lender mentioned the loan came with free conveyancing. Is the implication that I have to use their panel lawyer as I would much rather use a high street conveyancing solicitor in Gatley?
You should check but the the likelihood is that appoint one of their panel lawyers if you want the "fee-free" incentive. Call the lender to see if they allow a cash alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Gatley.
I am the single recipient of my late grandmother’s will and I have everything in my name alone, including the house in Gatley. Conveyancing formalities meant that the Land Registry date was in June. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship could be considered the same way as though I had purchased the house in June. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. Some banks would take a pragmatic view as this requirement chiefly exists to capture the purchase and immediately sell or the flipping of properties.
I have today made my last payment due on my mortgage with Clydesdale. I assume I don't need a Gatley property lawyer on the Clydesdale panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Clydesdale mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Clydesdale mortgage from the register. Clydesdale, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Gatley. I have a mortgage agreed with Skipton. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
What does a local search tell me regarding the house my wife and I buying in Gatley?
Gatley conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations for example Searches UK The local search plays a central part in many a Gatley conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search will supply data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
I'm purchasing a new build house in Gatley with the aid of help to buy. The developers refused to move on the amount so I negotiated £7000 of additionals instead. The sale representative suggested that I not disclose to my solicitor about this side-deal as it could put at risk my mortgage with the lender. 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.