My wife and I are buying a new build duplex in Great Barr and my lawyer is informing me that she is duty bound to the mortgage company to disclose incentives from the developer. The Estate Agents are hassling me to exchange and my preference is not to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
About to place an offer on a leasehold apartment in Great Barr. The estate agents advise that it is standard for flats in Great Barr to have less than 75 years unexpired on the lease. I am taking out a loan with Tesco Bank. Is this going to be acceptable if the lease has 70 years remaining.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 21/6/2021 the requirements read as follows :
The deeds to our property are lost. The solicitors who did the conveyancing in Great Barr 10 years ago are no longer around. What are my options?
Gone are the days when you need to hold title deeds to prove you own the land or property, as the Land Registry have everything they need in a digital format.
Due to the input of my in-laws I had a survey completed on a property in Great Barr ahead of retaining lawyers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some lenders will refuse to grant a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Great Barr. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Great Barr to see if the conveyancing costs will increase in light of this.
I need to instruct a conveyancing solicitor for sale conveyancing in Great Barr. I happened to stumble upon a web site which looks to be the perfect solution If it is possible to get all formalities completed via web that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?