I am hoping to receive a mortgage with Santander. My intention is to retain the legal services of a Licensed Conveyancer in Haydock. Does the Santander Conveyancing panel exclude Licensed Conveyancers?
The Santander approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
When it comes to lenders such as Virgin Money, do Haydock solicitors face a fee to be on the conveyancing panel?
We are not aware of any lender fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
Can I be sure that the Haydock conveyancing solicitor on the Skipton panel is any good?
When it comes to conveyancing in Haydock seeking 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 which is cheap as chips. We would always recommend that you speak with the lawyer conducting your conveyancing.
I currently have a mortgage with TSB for my property in Haydock. Conveyancing was finalised months ago. If I am intending 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 TSB?
You must advise TSB prior to renting your property as this is likely to be a breach of TSB’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 TSB directly. It should not be necessary to do this via a TSB conveyancing panel lawyer.
It has been five months following my purchase conveyancing in Haydock took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Haydock differ for new build properties?
Most buyers of new build property in Haydock come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is ready to move into. This is because builders in Haydock typically buy the site, 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 conveyancers 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 used to new build conveyancing in Haydock or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Haydock in advance of retaining conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some banks will not issue a loan on such a property.
It depends who your proposed lender is. HSBC has different instructions for example to Nationwide. If you e-mail us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Haydock. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Haydock to see if the conveyancing will be more expensive.
My sealed bid on house in Haydock was agreed to, but there is a chain. The vendors have put an offer on somewhere, but it’s not yet agreed to, and has viewings of other flats booked. I have chosen a nearby conveyancing lawyer in Haydock. What should be my next step? When should I get the mortgage application with Nationwide going with Nationwide?
It is understandable to have concerns where there is a chain given your reluctance to be too out of pocket too early (home loan application is approx £1k, then survey, Haydock conveyancing search costs, etc). The first course of action is to ensure that your property lawyer is on the Nationwide approved list. Concerning the next stages this very much dictated by the specifics of your case, desire for the property and on the state of the market. In a buoyant market the majority of purchasers would apply for the mortgage with Nationwide and arrange for the survey and only if it comes back ok would they pay their lawyer to press on with searches.