I am considering applying for a Virgin Money mortgage for purchase of a new build (under development) in Park Langley with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?
In theory, you could use a solicitor that is not on the Virgin Money conveyancing panel, but Virgin Money would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
A friend informed me that in purchasing a property in Park Langley there may be various restrictions preventing external changes to the property. Is this right?
There are anumerous of properties in Park Langley which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Park Langley should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We expect to receive a OIP from UBS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do UBS recommend any Park Langley solicitors on the UBS conveyancing panel, or is it better to go independently?
You will need to appoint Park Langley solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
Intending to buy a maisonette in Park Langley. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Park Langley solicitor is on the Barclays conveyancing panel.
Should our solicitor be raising enquiries concerning flooding as part of the conveyancing in Park Langley.
Flooding is a growing risk for solicitors dealing with homes in Park Langley. There are those who buy a house in Park Langley, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, however there are a numerous checks that may be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Park Langley. The conventional set of information sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the owner to discover whether the property has historically flooded. If flooding has previously occurred and is not notified by the owner, then a buyer may bring a claim for damages as a result of such an incorrect answer. The purchaser’s conveyancers will also commission an environmental search. This will reveal if there is a recorded flood risk. If so, further investigations should be initiated.
My wife and I own a terraced Edwardian house in Park Langley. Conveyancing practitioner acted for me and Platform Home Loans Ltd. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold under the matching property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Park Langley and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with the conveyancing practitioner who carried out the work.
What should I expect to pay for conveyancing in Park Langley?
The amount you are charged for Park Langley conveyancing costs will differ dramatically from lawyer to lawyer. In the circumstances it all the more important that you have a full breakdown of fees when you first appoint a lawyer. One should always seek a few fee estimate.