My apartment in Aldgate is up for sale and I have a purchaser. Does my conveyancer have to be on the Santander conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Santander conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
My uncle pointed out to me me that in buying a property in Aldgate there could be a number of restrictions affecting the ability to carry out external changes to the property. Is this right?
We are aware of anumerous of properties in Aldgate which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Aldgate should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Aldgate solicitor practices on the UBS conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the UBS approved list of solicitors they would need to be overseen by the SRA. Some lenders do permit licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.
It is not clear whether my mortgage offer requires a lease extension. I have telephoned my Aldgate bank branch on numerous occasions and was reassured it wasn't an issue and they will lend. My Aldgate conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend in accordance with their specific requirements. Who do I believe?
As long as the solicitor is on the mortgage company approved list, she or he must follow the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have recentlybecome aware that Wolstenholmes have been shut down. They conducted my conveyancing in Aldgate for a purchase of a freehold house 9 months ago. How can I be sure that my home is not still registered in the name of the former proprietor?
The quickest way to check if the premises 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 Aldgate conveyancing specialists.
I am buying a new build flat in Aldgate. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Aldgate
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants.
Due to the input of my in-laws I had a survey completed on a property in Aldgate before instructing solicitors. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some banks will refuse to give a loan on such a home.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. If you call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Aldgate. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Aldgate to see if the conveyancing costs will increase in light of this.
After what seems like an age I have had an offer on an apartment in Aldgate agreed to, the seller does however have a connected purchase. The sellers have offered on a flat, but it’s not been accepted yet, and has viewings of other flats booked. I have instructed a nearby conveyancing lawyer in Aldgate. What should be my next step? At what point do I apply for the mortgage with Nottingham?
It is usual to have anxieties where there is a chain given your reluctance to be too out of pocket too early (mortgage application is in the region of £1k, then survey, Aldgate conveyancing search fees, etc). The first course of action is to ensure that your conveyancer is on the Nottingham conveyancing panel. Regarding the next phase this very much dictated by the specifics of your case, desire for the property and on the state of the market. In a rising market many buyers will apply for the mortgage with Nottingham and pay for the valuation and only if it was satisfactory would they request their conveyancer to move forward with searches.