I am expecting a AIP from Virgin Money 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 Virgin Money recommend any Bowthorpe solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Bowthorpe solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I currently have a mortgage with Lloyds for my property in Bowthorpe. Conveyancing has been completed 12 months 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 Lloyds?
You must advise Lloyds in advance of letting out your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds 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 Lloyds directly. You need not do this via a Lloyds conveyancing panel lawyer.
Santander have agreed my mortgage in principle, my bid on a apartment in Bowthorpe has been accepted, what happens next?
The estate agent will need to know who your solicitors are (ensure that the property lawyers are on the lender’s panel). Contact Santander or your financial adviser and finish off any appropriate forms. Santander will sellect a valuer who will get in touch with the estate agent or vendor to book an appointment. Once conducted (assuming no problems) it takes about a fortnight to receive the mortgage offer. Santander will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Bowthorpe.
Despite weeks of looking the Title Certificate and documents to our house are lost. The conveyancers who handled the conveyancing in Bowthorpe 5 years ago are no longer around. Will I be able to sell the house?
Gone are the days when you need to have the physical official documentation to evidence that you are the owner of your registered land or premises, given that the Land Registry have everything they need in a digital format.
Due to the advice of my in-laws I had a survey completed on a house in Bowthorpe before retaining solicitors. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some lenders tend refuse to grant a loan on a flying freehold premises.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. If you contact 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 Bowthorpe. Conveyancing may be slightly more expensive based on your lender's requirements.
In what way does the Landlord & Tenant Act 1954 affect my business property in Bowthorpe and how can you help?
The 1954 Act provides a safeguard to commercial lessees, granting the a statutory right to make a request to court for a renewal tenancy and remain in occupation at the end of the lease term. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and help with commercial conveyancing in Bowthorpe
Am I better off to go with a Bowthorpe conveyancing practitioner based in the area that I am purchasing? We have a good friend who can handle the conveyancing however they are based approximately 350kilometers drive away.
The primary upside of using a local Bowthorpe conveyancing firm is that you can attend the office to sign paperwork, present your ID and apply pressure on them where appropriate. They will also have local knowledge which is a benefit. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and they were impressed that should trump using an unfamiliar Bowthorpe conveyancing solicitor solely due to them being based in the area.
Is planning permission needed to change a house into a couple of flats in Bowthorpe? This has occurred to a property next door to a relative in Bowthorpe and was ignorant of it happening until it was finished.
Planning permission is necessary for splitting a single house in Bowthorpe into flats but probably not for converting back to single dwelling-house so, in answer to your query, yes.