We are purchasing a house in St Bees. I might seem paranoid but how we can trust a lawyer? On completion day we will need to deposit money into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
When it comes to lenders such as RBS, do St Bees property lawyers incur an annual charge to be on the list of approved solicitors?
We are unaware of any lender fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I have a mortgage with Kent Reliance for my property in St Bees. Conveyancing was finalised months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
Kent Reliance must be informed of your intention in advance of letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel firm.
I have recentlyfound out that Wolstenholmes have been shut down. They conducted my conveyancing in St Bees for a purchase of a leasehold flat 12 months ago. How can I establish that my home is not still registered in the name of the former proprietor?
The easiest way to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of St Bees conveyancing specialists.
I'm purchasing a new build house in St Bees with a loan from The Mortgage Works. The builders would not reduce the price so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not reveal to my conveyancer about the side-deal as it will put at risk my mortgage with the lender. Should I keep quiet?.
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 opted to have a survey completed on a property in St Bees in advance of retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies will not issue a mortgage on this type of property.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to telephone us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in St Bees. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in St Bees to see if the conveyancing will be more expensive.
How can the Landlord & Tenant Act 1954 affect my business property in St Bees and how can your lawyers assist?
The particular law that you refer to provides security of tenure to commercial lessees, granting the a statutory right to apply to court for a new tenancy and continue in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. St Bees is one of our many locations in which our lawyers have offices