I just bought a house at auction in Hook Norton. Conveyancing is necessary. What is next?
Having legally bound yourself to purchase you now have to instruct a conveyancing lawyer soon as you are facing a tight a drop dead date to complete the purchase. An auction property will have an associated auction set of papers. This should include most,if not all of the documents that your solicitor requires. In the case of leasehold property the auction papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You need to pass this on to the solicitor instructed by you at the earliest opportunity. Do make sure that you have funds in order to complete on the on the contractual date .
I happen to be the sole beneficiary of my late father’s will with all property in now in my sole name, including the house in Hook Norton. The Hook Norton property was put into my name in November. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship will be considered the same way as though I had purchased the property in November. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How sensible a view banks take of it, depend on the lender as this provision principally exists to pick up on subsales or the flipping of properties.
My offer was accepted on a house in Hook Norton on 16/10/2024, valuation was booked 2 days after, received a clean bill of health. Conveyancer instructed, so all that was missing was my mortgage offer. Having made daily calls to Skipton and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Skipton conveyancing panel. Can the lender hold off the offer?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
Are there restrictive covenants that are commonly identified as part of conveyancing in Hook Norton?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Hook Norton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying my first flat in Hook Norton benefiting from help to buy. The sellers would not budge the amount so I negotiated £7000 of additionals instead. The estate agent advised me not disclose to my solicitor about the side-deal as it would impact my loan with the bank. Do I keep my lawyer in the dark?.
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.
Due to the input of my in-laws I had a survey completed on a property in Hook Norton ahead of retaining solicitors. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies will not give a mortgage on such a premises.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. If you e-mail us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hook Norton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hook Norton to see if the conveyancing costs will increase in light of this.
What does commercial conveyancing in Hook Norton cover?
Hook Norton conveyancing for business premises incorporates a wide array of advice, offered by qualified solicitors, relating to business property. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
What type of property do your Hook Norton conveyancing quotes apply to?
Our conveyancing quotes are only relevant to standard domestic property in England & Wales. If you have any different requirements such as industrial or agricultural land or commercial conveyancing in Hook Norton do contact us to consider your requirements .