We have a mortgage agreed in principle with HSBC. Hadleigh conveyancing practitioners have been selected. What is the average time that one could expect to receive a mortgage offer from HSBC?
There is no definitive answer here. Have HSBC conducted the valuation? Have you informed HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I'm in the process of looking at flats in Hadleigh and I am about to put in an offer. Is it premature to have a solicitor in place? I am planning to take a mortgage with Clydesdale.
It would be wise to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are taking out a mortgage with Clydesdale, make sure you remember to check that your lawyer is on the Clydesdale conveyancing panel.
I have a mortgage with Co-operative for my property in Hadleigh. Conveyancing has been completed months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Co-operative?
You must advise Co-operative in advance of letting out your property as this is likely to be a breach of Co-operative’s mortgage conditions. It may be that Co-operative will permit you to let 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 Co-operative directly. You need not do this via a Co-operative conveyancing panel firm.
Will our conveyancer be making enquiries concerning flooding as part of the conveyancing in Hadleigh.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Hadleigh. There are those who purchase a house in Hadleigh, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to offer advice on flood risk, but there are a numerous checks that can be initiated by the purchaser or by their solicitors which can figure out the risks in Hadleigh. The conventional set of property information forms supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the owner to find out if the premises has historically flooded. If flooding has previously occurred which is not notified by the vendor, then a purchaser may issue a legal claim for losses stemming from an incorrect response. The buyer’s conveyancers should also commission an enviro search. This will disclose whether there is any known flood risk. If so, additional investigations will need to be made.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Hadleigh. I happened to stumble across a web site which looks to be the ideal answer If there is a chance to get all the legals completed via web that would be preferable. 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?
Back In 2008, I bought a leasehold house in Hadleigh. Conveyancing and Bank of Scotland mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Hadleigh who acted for me is not around. What should I do?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Hadleigh conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Hadleigh Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
Many Hadleigh leasehold properties will have a service charge for the upkeep of the building levied by the landlord. Should you purchase the flat you will have to meet this contribution, usually periodically during the year. This could vary from several hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a rentcharge to be met annual, this is usually not a significant amount, say approximately £25-£75 but you should to check as on occasion it could be many hundreds of pounds. What is the the remaining lease term? How much is the ground rent and service charge?
Why is New Build conveyancing in Hadleigh more costly?
Acquiring a new build home is significantly different from the normal house purchase conveyancing in Hadleigh. Firstly sellers usually need contracts to exchange very quickly, the result being a lot of pressure on your solicitor to ensure all is in order. In addition new build conveyancing frequently necessitate examination of adoption of highways, drains, planning considerations, building warranties or architects certificates. Mortgage lender obligations are also more demanding. Given the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.