We are getting a further advance on our home loan from Lloyds as we want to carry out improvements to our house in South Normanton. Do we need to appoint a local South Normanton solicitor on the Lloyds conveyancing panel to deal with the legals?
Lloyds don't usually appoint a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds panel.
My fiancee and I are in the process of looking at flats in South Normanton and I am now considering a potential offer. Is it too early to have a solicitor in place? I will be getting a mortgage with UBS.
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are obtaining a mortgage with UBS, make sure you remember to check that your lawyer is on the UBS conveyancing panel.
I have paid off my mortgage with Principality. I assume I don't need a South Normanton conveyancing practitioner on the Principality panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Principality mortgage from the register. Principality, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
How does conveyancing in South Normanton differ for newly converted properties?
Most buyers of new build or newly converted property in South Normanton contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in South Normanton typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in South Normanton or who has acted in the same development.
I decided to have a survey done on a property in South Normanton prior to retaining conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some banks will not issue a loan on such a property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in South Normanton. Conveyancing will be smoother if you use a solicitor in South Normanton especially if they are acquainted with such properties in South Normanton.
I was pointed in your direction by a few property agents in South Normanton to select a solicitor on your site. What’s the financial incentive for Estate Agents to recommend your site ahead of another?
We refuse to offer any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Are there frequently found problems that you come across in leases for South Normanton properties?
Leasehold conveyancing in South Normanton is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
A provision to repair to or maintain parts of the building Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Skipton Building Society, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.
South Normanton Leasehold Conveyancing - Sample of Queries Prior to buying
It would be wise to discover if the the lease contains any adverse restrictions in the lease. For example it is very common in South Normanton leases that pets are not allowed in certain buildings in South Normanton. If you like the propertyin South Normanton but your dog is not allowed to move with you then you have a very hard choice. How much is the ground rent and service charge? How is the lease structured?