I have just started taking steps with the intention of changing my current residential home loan to a BTL Nottingham Building Society mortgage. The bank has said that I require a lawyer as part of the process. I spoke to my former Willenhall conveyancing firm who acted on my behalf when I originally bought the premises. The quote supplied of £500 is surprising as its a remortgage than a sale or purchase.
The quote is slightly on the expensive side. If you are willing to expend time contrasting costs you could get the conveyancing a bit cheaper by as much as £125. On the other hand, assuming were satisfied with the assistance the firm provided you mightcome to rue choosing an a cheaper conveyancer. Don't forget to check that the firm can also act for Nottingham Building Society. Do use our search tool to choose a Willenhall conveyancing firm on the Nottingham Building Society approved list of lawyers, which can often include conveyancing solicitors in Willenhall.
A friend advised me that in purchasing a property in Willenhall there could be various restrictions prohibiting external changes to a property. Is this right?
We are aware of a number of properties in Willenhall which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Willenhall should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have today made my last payment due on my mortgage with Virgin Money. I assume I don't need a Willenhall conveyancer on the Virgin Money panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money 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 Virgin Money mortgage from the register. Virgin Money, 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 Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I have a mortgage with Nationwide for my property in Willenhall. Conveyancing was finalised 12 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 Nationwide?
Your original mortgage agreement with Nationwide will provide that you need their approval in advance of renting your property as this is likely to be a breach of Nationwide’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Nationwide directly. You need not do this via a Nationwide conveyancing panel lawyer.
I'm purchasing a new build house in Willenhall with the aid of help to buy. The developers refused to budge the amount so I negotiated 6k of extras instead. The house builders rep advised me not inform my solicitor about this deal as it may adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
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 am looking for a conveyancing solicitor in Willenhall for my purchase. Can I see a firm’s complaints history with the legal regulator?
You can see published Solicitor Regulator Association (SRA) decisions arising from investigations started on or after 1 January 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The regulator may recorded telephone calls for training requirements.
My wife and I are FTB’s just having agreed a price on a property in Willenhall, and are about to get solicitors lined up. I have made use of the different comparison tools and the quotes are from all across the country. Is it critical to have a Willenhall conveyancing practitioner local to our potential new home? I am willing to do all the communicating over the internet, but I assume at some stage we will need to physically go into the property lawyer's office to sign contracts?
The conveyancer does not need to be in Willenhall, but choosing local means that you can go in if needed, by way of example, if a signature is needed urgently. Furthermore, a Willenhall solicitor have established relationships with local agents and (if the vendor has instructed a local lawyer) with them, which will help smooth the process.