I am acquiring a newly built apartment in Cambourne and my solicitor is informing me that she is duty bound to the bank to reveal incentives from the seller. I am nearing the developer’s deadline to sign contracts and I don't want to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Having sold my house in Cambourne last November but the buyer keeps telephoning daily to say her solicitor needs to hear from mine. What are the post completion sale formalities now that I have sold?
Following your sale your conveyancer should deliver the transfer deeds and all supplemental paperwork to the purchaser's lawyers. Where appropriate, your conveyancer must also evidence that the legal charge in favour of the lender has been paid off to the purchasers conveyancers. There is unlikely to be post completion formalities specific conveyancing in Cambourne.
My uncle passed away six months ago and as sole heir and executor I was left the property in Cambourne. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this possible?
Where you intend to refinance then Skipton will require that you use a conveyancer on the Skipton conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Skipton conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Skipton mortgage is registered as a charge at the Land Registry.
We are planning to move home in June. Does my conveyancing solicitor call the removal company on the completion day. On a separate note, can you recommend a removal company in Cambourne. Conveyancing lawyer was found prior to coming across your site.
On the afternoon of completion you can pick up the keys from the property agent but this can only take place after the vendors solicitors confirm to the agent that the monies to complete are in and the keys can be collected. You should advise the removal men that you are ready to move in. As a matter of policy we do not recommend a particular removal company but can assist you in choosing a residential property solicitor in Cambourne or a legal practice with expertise in conveyancing in Cambourne.
Please help - my lawyer advises that breach of easement insurance is needed on my purchase. What is the level of cover for Cambourne conveyancing?
The right level of breach of easement indemnity insurance depends on who your lender is. It would differ for example between Barclays and Barnsley Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
I currently have a mortgage with Yorkshire BS for my property in Cambourne. Conveyancing was finalised 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 buy-to-let mortgage or inform Yorkshire BS?
Your original mortgage agreement with Yorkshire BS will provide that you need their approval in advance of renting your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. It may be that Yorkshire BS 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 lawyer.
I'm purchasing a new build house in Cambourne with a mortgage from TSB. The developers would not reduce the amount so I negotiated £7000 of additionals instead. The sale representative advised me not disclose to my conveyancer about this side-deal as it would affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I'm converting the mortgage on my primary property to a BTL mortgage with Nottingham Building Society and I will use the rest of the raised equity as a deposit on further house. The area we are interested in is Cambourne. Will your solicitors be able to act for the two lenders and link together the transactions?
Do use our search tool on this page to check that the conveyancers are approved by both mortgage companies. Assuming that they are your lawyer will be able to tie up the two deals but you should have a chat with you lawyer and specify your expectations and requirements.