It is is a decade since I purchased my property in Shenfield. Conveyancing solicitors have now been appointed on the sale but I am unable to find my title documents. Will this cause complications?
You need not be too concerned. First there is a possibility that the deeds will be with your lender or they may be archived with the solicitor who handled the purchase. Secondly in most cases the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring current official copies of the land registers. Almost all conveyancing in Shenfield involves registered property but in the unlikely event that your home is unregistered it is more of a problem but is resolvable.
We are getting the release of further monies on our home loan from Principality as we want to conduct a loft conversion to our property in Shenfield. Do we need to choose a nearby Shenfield solicitor on the Principality conveyancing panel to handle the paperwork?
Principality don't usually instruct firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality conveyancing panel.
It is not clear whether my mortgage offer requires a lease extension. I have called my Shenfield building society branch on various occasions and was advised it wasn't a problem and they will lend. My Shenfield conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they will not lend in accordance with their published requirements. I simply don't know who is right.
Your property lawyer must comply with the Council of Mortgage Lenders’ Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Lloyds have agreed my mortgage in principle, my offer on a property in Shenfield has been accepted, what happens next?
Your property agent will wish to know who your solicitors are (ensure that the conveyancing practitioners are on the lender’s panel). Telephone Lloyds or your financial adviser and finish off any relevant paperwork. Lloyds will appoint a valuer who will get in contact with the estate agent or vendor to book a slot for the valuation to occur. Once conducted (assuming no problems) it takes on average a week to get a mortgage offer. Lloyds will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Shenfield.
I am purchasing a new build house in Shenfield with a mortgage from Norwich and Peterborough Building Society. The developers would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not inform my solicitor about the extras as it would affect my loan with the bank. Do I keep my lawyer in the dark?.
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 guidance of my in-laws I had a survey completed on a property in Shenfield ahead of instructing lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some banks may refuse to grant a mortgage on this type of property.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Shenfield. Conveyancing will be smoother if you use a solicitor in Shenfield especially if they regularly deal with such properties in Shenfield.
My husband and I have recently had an offer accepted on our first home in Shenfield, and need to get solicitors appointed. I have used the various comparison based websites and the results are from all over the England and Wales. Is it critical to have a Shenfield lawyer local to your prospective new home? I am willing to do everything electronically, but I am thinking at some point we will be required to visit the solicitor's office to sign papers?
The conveyancer does not have to be in Shenfield, but choosing local means that you can attend their offices if required, by way of example, if a signature is immediately necessary. Furthermore, a Shenfield solicitor have established relationships with local agents and (if the vendor has chosen a local property lawyer) with them, which will help smooth the process.