I am buying a house mortgage free in Salford. I have been living for the last twelve years in Salford. Conveyancing searches are expensive. As I know the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a mortgage, then the vast majority of the Salford conveyancing searches are at your discretion. Your lawyer will ’encourage you, no-doubt strongly, that you should have searches completed, but he is duty bound to take that path of guidance. One thing to bear in mind; if you are going to sell the house in the future, it may be of relevance to your prospective buyer what the searches determine. Sometimes premises with no practical issues can still show up adverse search results. A competent conveyancing solicitor in Salford should provide you some constructive guidance concerning this.
My husband and I are hoping to buy a newly converted flat in Salford with a loan from Bank of Scotland.We use our Salford conveyancing practitioner but Bank of Scotland says he's not listed on their "panel". We have to appoint a Bank of Scotland panel lawyer or keep our high street solicitor and pay for a Bank of Scotland panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Bank of Scotland use our lawyer?
Unfortunately,no. The home loan issued to you contains terms and conditions, a common one being that conveyancers needs to be on the Bank of Scotland approved list. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Bank of Scotland
What can a local search tell me concerning the house I am buying in Salford?
Salford conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company for example Onsearch The local search plays an important part in many a Salford conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search should provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
I am purchasing my first flat in Salford with a mortgage from Nottingham Building Society. The developers would not budge the amount so I negotiated £7000 of extras instead. The house builders rep advised me not inform my solicitor about the deal as it will affect my mortgage with Nottingham Building Society. 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.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Salford is where the house is located. Is there any guidance you can give?
Flying freeholds in Salford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Salford you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Salford 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 premises.