We are acquiring our first house. Our conveyancer has messagedto ask if we would like to purchase additional conveyancing searches. Frankly we have no idea as to what's relevant for conveyancing in Aldborough Hatch
The type of Aldborough Hatch conveyancing searches depends primarily on the property, the location, the likelihood of any of these risks, your familiarity of the locality and risks, your overall attitude to risk. What matters is that you adequately appreciate what information the searches could supply. You may then decide if you consider that you need that information. Where you are unsure, ask the conveyancing practitioner to provide guidance.
I am expecting a DIP from Yorkshire BS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Aldborough Hatch solicitors on the Yorkshire BS conveyancing panel, or is it better to go independently?
You will need to appoint Aldborough Hatch solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
The mortgage over my property is with Yorkshire BS for my property in Aldborough Hatch. Conveyancing was finalised some time 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 buy-to-let mortgage or inform Yorkshire BS?
You must advise Yorkshire BS before renting your property as this is likely to be a breach of Yorkshire BS’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 Yorkshire BS directly. You need not do this via a Yorkshire BS conveyancing panel firm.
Coventry BS have agreed my mortgage in principle, my offer on a flat in Aldborough Hatch has been agreed to, what happens next?
Your estate agent will want to know who your solicitors are (make sure the property lawyers are on the lender’s panel). Contact Coventry BS or your financial adviser and finish off any outstanding paperwork. Coventry BS will instruct a valuer who will get in contact with the selling agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes about ten days for the mortgage offer to be issued. Coventry BS will send 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 Aldborough Hatch.
I am downsizing from our property in Aldborough Hatch and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any high street Aldborough Hatch conveyancer would know this is not the case. It does beg the question why the buyers instructed a national conveyancing firm rather than a conveyancing solicitor in Aldborough Hatch. Having lived in Aldborough Hatch for 5 years we know that this is a non issue. Do we contact our local Authority to seek confirmation that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Me and my brother purchased a terraced Victorian house in Aldborough Hatch. Conveyancing lawyer acted for me and Nottingham Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Aldborough Hatch and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing lawyer who conducted the purchase.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Aldborough Hatch is where the house is located. Can you offer any guidance?
Flying freeholds in Aldborough Hatch are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Aldborough Hatch you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Aldborough Hatch may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I have been pointed in your direction by a number of estate agents in Aldborough Hatch to locate a solicitor on your site. Is there a financial inducement for Estate Agents to market your lawyers over and above alternative conveyancing organisations?
We refuse to give any financial incentive for directing people in our direction. We found it would be just too difficult to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.