I am getting a offer of a home loan from Lloyds. My intention is to enlist the help of a Licensed Conveyancer in Hove. Does the Lloyds Conveyancing panel exclude conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My uncle passed away last year and as sole heir and executor I was left the property in Hove. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Kent Reliance, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Kent Reliance will require that you use a conveyancer on the Kent Reliance conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Kent Reliance conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Kent Reliance mortgage is registered as a charge at the Land Registry.
When it comes to mortgage companies such as Nottingham, do Hove conveyancers have to pay a yearly amount to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
We were going to get a OIP from Leeds Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Hove solicitors on the Leeds Building Society conveyancing panel, or is it better to go independently?
You will need to appoint Hove solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
The mortgage over my property is with Principality for my property in Hove. Conveyancing has been completed a year 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 Principality?
Your original mortgage agreement with Principality will provide that you need their approval before renting your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality 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 Principality directly. You need not do this via a Principality conveyancing panel firm.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Hove is where the house is located. Is there any guidance you can impart?
Flying freeholds in Hove are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hove you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hove may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am soon to complete on the purchase a property in Hove but as a consequence of wreckage from the recent storms I have negotiated reparation from the seller of £3k in the form of a deduction in the price. I had intended this to be addressed as part of the conveyancing process but my lender will not permit this. Should they have been notified?
Your lawyer listed on a mortgage company conveyancing panel is duty bound to inform the bank of any amendments to the purchase figure. In the event that you prohibit your conveyancing practitioner to disclose the price change to your bank then they would have no choice but to refrain from representing you and the lender.