I am considering mortgaging my flat in Buckingham, does my lawyer have to be on the Leeds Building Society Conveyancing panel?
In theory, you could use a solicitor that is not on the Leeds Building Society conveyancing panel, but Leeds Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I'm the single recipient of my late father’s estate with all property in now in my sole name, including the house in Buckingham. The Buckingham property was put into my name in December. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship may be treated the same way as if I'd bought the property in December. Do I have to wait 6 months to sell?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How sensible a view mortgage companies take of it, depend on the bank as this provision chiefly exists to pick up on subsales or the quick reselling of property.
We have agreed to purchase a house in Buckingham. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender RBS be concerned?
Given that your lender is RBS your lawyer must comply with the formal instructions set out in Part 2 of UK Finance Lenders’ Handbook for RBS. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and lawyers are required to report to RBS where a lease does not comply with these conditions. The conditions relate to the installation of panels on properties in England and Wales and is not restricted to Buckingham.
My offer on a detached house in Buckingham has been agreed to, the vendors do however have an associated purchase. The sellers have put an offer on a property, but it’s not been accepted yet, and have viewings of other flats booked. I have chosen a high street conveyancing solicitor in Buckingham. What should be my next step? When do I get the mortgage application with Clydesdale started?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then valuation, Buckingham conveyancing search charges, etc). The first thing to do is check that your solicitor is on the Clydesdale approved list. Regarding the next phase this very much dictated by the circumstances of your transaction, desire for the property and on the state of the market. During a hot market some purchasers would apply for the mortgage with Clydesdale and pay for the valuation and only if it comes back ok would they request their property lawyer to move forward with the conveyancing in Buckingham.
How does conveyancing in Buckingham differ for newly converted properties?
Most buyers of new build or newly converted property in Buckingham contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Buckingham typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Buckingham or who has acted in the same development.
Over the last few months I have been searching for a flat up to £235,500 and found one round the corner in Buckingham I like with a park and station in the vicinity, however it's only got 52 remaining years left on the lease. There is not much else in Buckingham suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan that many years will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
How easy is it to use the search app to locate a conveyancing lawyer in Buckingham on the approved list for my lender?
First select a lender such as Lloyds TSB Bank, Bank of Scotland or Nottingham Building Society then type in your preferred area for example Buckingham. Conveyancing organisations in Buckingham and further afield should be listed.
We're first time buyers - had an offer accepted, but the selling agent told us that the owners will only go ahead if we appoint their preferred solicitors as they need an ‘expedited deal’. Our preferred option is to instruct a local solicitor who is accustomed to conveyancing in Buckingham
We suspect that the owner is not behind this request. Should the seller require ‘a quick sale', alienating a motivated purchaser is going to damage their objectives. Contact the vendors directly and make the point that (a)you are genuine purchasers (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)but you are going to appoint your preferred Buckingham conveyancing lawyers - not the ones that will earn the estate agent a referral fee or achieve conveyancing thresholds demanded by HQ.