Me and my partner are soon to exchange buying a house in Hatton Park but as a result of wreckage from some water damage at the property I have managed to agree reparation from the owner in the sum of £2k taking the form of a reduction in the price. This was going to be dealt with as part of the conveyancing process however Leeds Building Society are not allowing this. Should they have been involved?
The lawyer being on a Leeds Building Society conveyancing panel is obliged to advise Leeds Building Society of any changes to the sale price. If you prohibit your lawyer to report the price change to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new conveyancing practitioner for your conveyancing in Hatton Park.
Finally the sale completed on my house in Hatton Park last January but the buyer keeps calling me complaining that her conveyancer needs to hear from myconveyancer. What are the post completion sale legalities following completion?
Post completion of your house sale your conveyancer should deliver the transfer deeds and all of the paperwork to the buyer’s lawyers. Where appropriate, your conveyancer must also send confirmation that the mortgage has been repaid to the purchasers conveyancers. There are no post completion procedures peculiar conveyancing in Hatton Park.
I am buying a property and require a conveyancing solicitor in Hatton Park who is on the Coventry Building Society conveyancing. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Coventry Building Society in certain locations such as Hatton Park. We dont recommend any particular firm.
My aunt advised me that in purchasing a property in Hatton Park there may be various restrictions limiting what one can do in terms of external changes to a property. Is this right?
There are anumerous of properties in Hatton Park which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Hatton Park should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Does a directory service exist listing Co-operative panel conveyancers in Hatton Park on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lending institutions make their panel listings open the public on the web. If you are looking for a Hatton Park conveyancer on the Co-operative please use our tool.
The mortgage over my property is with Virgin Money for my property in Hatton Park. Conveyancing was finalised some time ago. If I am intending 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 Virgin Money?
Your original mortgage agreement with Virgin Money will provide that you need their approval in advance of renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money 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 Virgin Money directly. You need not do this via a Virgin Money conveyancing panel lawyer.
I'm buying my first flat in Hatton Park with a mortgage from Godiva Mortgages Ltd. The sellers refused to budge the price so I negotiated 6k of additionals instead. The sale representative suggested that I not to tell my solicitor about this deal as it will impact my loan with the bank. Is this normal?.
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.