What does a local search inform me concerning the house I am buying in Filey?
Filey conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company for example Onsearch The local search is essential in every Filey conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search will provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
My wife and I own a 4 bedroom Victorian property in Filey. Conveyancing lawyer represented me and The Royal Bank of Scotland. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Filey and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with your conveyancing lawyer who conducted the work.
I'm purchasing my first flat in Filey with a loan from National Westminster Bank. The builders refused to move on the price so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not inform my conveyancer about this side-deal as it will impact my mortgage with the bank. Is this normal?.
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've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Filey is where the house is located. Can you offer any guidance?
Flying freeholds in Filey are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Filey you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Filey may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Do I need to be wary that third parties that I am dealing with are suggesting a factory type conveyancing firm as opposed to a local Filey conveyancing firm?
As is the case with lots of service providers, often suggestions from relatives can be very helpful. Yet there are numerous people with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all recommend lawyers to appoint. On occasion these lawyers might be known to one of the organisations as experts in their field, but sometimes there exists a commercial relationship behind the endorsement. You have the right to choose your own lawyer. However, bear in mind that some banks specify a panel list of conveyancers you are obliged to use for the lender related work in your conveyancing.
Builders have recommended to me a solicitor and I've sought a quote from them. It's nearly £300 less expensive than my local Filey property lawyer. What's the catch?
Housebuilders normally have panels of property lawyers who are quick and who know the builder's documentation and lawyer. As many developers offer an incentive to select their approved lawyer for this reason, any increased fees can be avoided and a developer will not put forward a conveyancing factory and run the risk of having the conveyancing stall when they want exchange in 28 days. The argument for not opting for the suggested lawyer is that they may prove unwilling to fight for your interests at the risk of alienating the sellers. If you worry that this may be the situation you should remain with your high street Filey conveyancer.