My partner and I are spending time looking at apartments in Whissendine and I am about to put in an offer. Is it sensible to have my solicitor on ‘stand by’? I will be getting a home loan with UBS.
It would be advisable to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. As you are getting a mortgage with UBS, ask your prospective lawyers if they are on the UBS conveyancing panel otherwise they can't do the mortgage legal work.
I currently have a mortgage with Clydesdale for my property in Whissendine. Conveyancing has been completed a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
You must advise Clydesdale in advance of renting your property as this is likely to be a breach of Clydesdale’s mortgage conditions. It may be that Clydesdale 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 Clydesdale directly. You need not do this via a Clydesdale conveyancing panel lawyer.
I have finally had an offer on a flat in Whissendine accepted, but there is a chain. The vendors have offered on a flat, but it’s not been accepted yet, and are looking at other apartments booked. I have selected a nearby conveyancing solicitor in Whissendine. What do I do now? When should I get the mortgage application with TSB going?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is approx £1k, then survey, Whissendine conveyancing search fees, etc). First, you should check that your solicitor is on the TSB conveyancing panel. As to the next phase this very much depends on the specifics of your transaction, motivation for the property and on the state of the market. During a rising market the majority of home buyers will apply for the mortgage with TSB and arrange for the valuation and only if it comes back ok would they ask their solicitor to proceed with searches.
The deeds to my home are lost. The lawyers who conducted the conveyancing in Whissendine 5 years ago no longer exist. What do I do?
In today’s world there are copies made of almost everything, and your conveyancer will be aware precisely where to locate all the appropriate documentation so you may buy or dispose of your property without a hitch. Where duplicates are not available, your lawyer may be able to put in place insurance or indemnities protecting you against future claims on your property.
I am purchasing my first flat in Whissendine benefiting from help to buy. The sellers refused to move on the amount so I negotiated £7000 of additionals instead. The house builders rep suggested that I not inform my solicitor about the side-deal as it could put at risk 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.
In my capacity as executor for the will of my uncle I am selling a property in Swansea but I am based in Whissendine. My solicitor (approximately 300 miles awayrequires that I execute a stat dec before the transaction finalising. Could you suggest a conveyancing solicitor in Whissendine who can attest this legal document for me?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are located in Whissendine
I work for a reputable estate agent office in Whissendine where we have witnessed a few leasehold sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Whissendine conveyancing firms. Please can you clarify whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Leasehold Conveyancing in Whissendine - Examples of Queries before Purchasing
The answer will be important as a) areas can cause problems in the block as the common areas may begin to deteriorate if services remain unpaid b) if the leaseholders have an issue with the running of the building you will want to have all the details Does the lease include onerous restrictions?