Some advice if I may. My Bury lawyer is assuring me that she is duty bound toapply for Bury conveyancing searches stemming from the fact thatthe firm are on the Nat Westapproved lawyer panel. Do I not have any options here?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a home loan with a mortgage company your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Bury conveyancing searches.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Bury?
There are many registered licenced Conveyancers in Bury and Solicitor firms in Bury who can assist with your conveyancing We would stress that both are regulated professionals specialising in the legal work in transferring property. The two can deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Bury building society branch on various occasions and was told they are content with the situation and they will lend. My Bury conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the solicitor is on the bank panel, she or he must adhere to the CML Handbook conditions for the lender. 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I recently had an offer agreed on an apartment in Bury. My mortgage broker recommended their conveyancers. I paid an upfront payment of £225. Not long after, the solicitor contacted me sheepishly admitting that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Are there restrictive covenants that are commonly identified as part of conveyancing in Bury?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Bury. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I decided to have a survey completed on a property in Bury prior to instructing conveyancers. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some lenders will not issue a mortgage on a flying freehold house.
It varies from the lender to lender. Santander has different requirements for example to Halifax. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bury. Conveyancing will be smoother if you use a solicitor in Bury especially if they regularly deal with such properties in Bury.
I'm remortgaging my existing home to a buy to let mortgage with Chelsea Building Society and intend to use the remaining equity as a down payment on further property. The neighborhood we are looking at is Bury. Will your conveyancers be able to act for both sets of banks and tie in the two deals?
Do use our search tool on this site to check that the lawyers are approved by both lenders. Having checked that they are the conveyancer will be able to connect the two conveyancing matters but you should have a chat with you conveyancer and make clear your expectations and needs.
At last I have had an offer on an flat in Bury agreed to, the seller does however have a dependent purchase. The vendors have offered on a property, although it’s not been accepted yet, and are looking at other apartments booked. I have selected a nearby conveyancing lawyer in Bury. What should be my next step? When do I get the mortgage application with Yorkshire BS started with Yorkshire BS?
It is standard to have anxieties where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx one thousand pounds, then survey, Bury conveyancing search costs, etc). First, you must check that your conveyancer is on the Yorkshire BS approved list. As to the next stages this very much dictated by the circumstances of your case, desire for this property and on the state of the market. During a buoyant market some purchasers would apply for the mortgage with Yorkshire BS and arrange for the survey and only if it was satisfactory would they pay their property lawyer to proceed with the conveyancing in Bury.