Me and my husband are purchasing a leasehold flat in Highnam. My lawyer is not listed on the bank approved list. Can I still use my Highnam conveyancing solicitor notwithstanding that they are not on the mortgage company panel?
One must have a property lawyer to deal with the formalities if you take out a mortgage to buy your home. They will carry out all the necessary investigations on the property, make sure that you will be registered as proprietor and ensure that all the necessary mortgage paperwork is dealt with. One could instruct a Highnam conveyancer of your choosing. However, where the conveyancing practitioner appointed is not on the bank conveyancing panel further fees will be levied as separate legal representation will be required by them. Bank panel applications can be submitted, so if your conveyancer has not historically applied for membership they should take the chance to apply.
I have given 2 months notice to my current landlord and must be out of my rented flat in Highnam by the end of next month. Conveyancing on my purchase has just started. How realistic is it to complete in three weeks as don't want to have to find temporary accommodation?
It is unwise to serve notice on a rental unless exchange of contracts has taken place. If you have not previously done so, update to your solicitor and request that they chase the other side, try to get a realistic time scale from them that all parties will aim towards
There are plenty of conveyancing solicitors in Highnam but how do I know who I should use?
Do not opt for the cheapest Highnam conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
My solicitor has informed me that flying freehold insurance is needed on my purchase. What is the level of cover for Highnam conveyancing?
The right level of flying freehold indemnity insurance depends on who your lender is. It would differ for example between Halifax and Virgin Money. Conveyancing solicitors as opposed to borrowers take out such insurances.
I am currently in the process of buying my council flat in Highnam. I have a mortgage offer with Co-operative. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Co-operative, you will need to appoint a solicitor on the Co-operative conveyancing panel.
I am purchasing my first flat in Highnam with a mortgage from Aldermore. The developers refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not reveal to my conveyancer about this extras as it may adversely affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Highnam is the location of the property. Can you shed any light on this issue?
Flying freeholds in Highnam are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Highnam you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Highnam 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.
How easy is it to use the search facility to get a fee calculation from a conveyancing solicitor in Highnam on the authorised to act for my lender?
1st select a mortgage company such as Halifax, Coventry Building Society or Barclays Direct then specify your location for instance Highnam. Conveyancing firms in Highnam and across England and Wales will then be listed.