I am considering applying for a UBS mortgage for purchase of a new build (under development) in Ilfracombe with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for UBS ?
There is nothing to stop you using your solicitor, but UBS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
My partner and I are close to exchanging contracts on the sale of our house in Ilfracombe and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any local lawyer would know this is not the case. It does beg the question why the purchasers instructed a national conveyancing outfit as opposed to a conveyancing solicitor in Ilfracombe. We have lived in Ilfracombe for six years we know of no issue. Should we get in touch with our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing firm already. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Are there restrictive covenants that are commonly identified as part of conveyancing in Ilfracombe?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Ilfracombe. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying a new build house in Ilfracombe with a loan from Barclays Direct. The builders would not budge the price so I negotiated 6k of fixtures and fittings instead. The estate agent told me not to tell my lawyer about the side-deal as it will jeopardize my mortgage with the bank. Should I keep quiet?.
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.
Due to the encouragement of my in-laws I had a survey completed on a property in Ilfracombe prior to appointing lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies will not give a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ilfracombe. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ilfracombe to see if the conveyancing will be more expensive.