After what seems like an age a loan agreement from HSBC for the refinancing of my 2 bedroom garden flat is coming within the next few days. Are you able to recommend a low cost conveyancing lawyer in Coventry?
You have arrived at the wrong place to search for the cheapest conveyancing in Coventry. Our goal is to offer cost effective conveyancing but our intention is not to work with the cheapest lawyers. Do not be fooled by brokers enticing you with low cost conveyancing in Coventry. Optimistically, in deciding on cheap conveyancing, you will get your money’s worth and at worst it will result in you with a surprising uplift in additional fees and still not receive the service required.
It is a dozen years since I bought my house in Coventry. Conveyancing lawyers have just been instructed on the sale but I can't locate my title documents. Is this a major issue?
You need not be too concerned. Firstly there is a possibility that the deeds will be retained by your lender or they may still be with the conveyancers who oversaw the purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Nearly all conveyancing in Coventry relates to registered property but in the unlikely event that your property is not registered it adds to the complexity but is resolvable.
How can we tell if a Coventry conveyancing solicitor on the TSB panel is any good?
When it comes to conveyancing in Coventry obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor handling your transaction.
The mortgage over my property is with Nottingham for my property in Coventry. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nottingham?
You must advise Nottingham prior to letting out your property as this is likely to be a breach of Nottingham’s mortgage conditions. In many cases banks or building societies 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 Nottingham directly. You need not do this via a Nottingham conveyancing panel lawyer.
I can not fathom if 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 Coventry building society branch on numerous occasions and was informed it wasn't a problem and they would lend. My Coventry conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your property lawyer has to comply with the Council of Mortgage Lenders’ Handbook section two provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender 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 remaining.
Various internet forums that I have visited warn that are the primary reason for delay in Coventry conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays in the conveyancing process. Searches are unlikely to feature in any holding up conveyancing in Coventry.
I am purchasing my first flat in Coventry with the aid of help to buy. The sellers would not move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative told me not inform my lawyer about this extras as it would put at risk my loan with Platform Home Loans Ltd. Do I keep my lawyer in the dark?.
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 am looking for a leasehold apartment up to £305k and found one near me in Coventry I like with a park and railway links in the vicinity, however it's only got 49 years on the lease. I can't really find anything else in Coventry for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage that many years will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.