I am in the throes of switching my current homeowner home loan to a BTL Britannia mortgage. I was told by my mortgage that I need a conveyancer for this. I had a chat my former Kineton conveyancing firm who dealt with the legals when I initially purchased the property. The quote e-mailed to me of £470 has taken me by surprise as its a remortgage than a sale or purchase.
The estimate does seem a tad steep. Where you are content to invest time scrutinising quotes you could shave off some of the cost by as much as £100 plus VAT. On the other hand, if you were happy with the service the firm provided you maylive to regret choosing an a cheaper solicitor. If is important to be sure that the solicitor can act for Britannia. You can utilise our search tool to find a Kineton conveyancing firm on the Britannia member panel, which can often include conveyancing solicitors in Kineton.
Me and my partner are soon to exchange on the purchase of a property in Kineton but as a consequence of wreckage from the recent storms I have managed to agree recompense from the owner of six thousand pounds by way of a deduction in the price. I had intended this to be dealt with as part of amending the contract but Virgin Money will not agree to this. Why were they involved?
Any conveyancer being on the Virgin Money approved list is duty bound to disclose to Virgin Money of any variations to the sale price. If you prohibit your solicitor to report the reduction to Virgin Money then they would have to discontinue acting for you. In addition, Virgin Money and you would have to appoint a new conveyancing practitioner for your conveyancing in Kineton.
Do I need to pop into the offices of the solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Kineton so that I can attend their offices if necessary.
As opposed to ten years ago, most lenders no longer oblige their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to provide ID documents and there are still distinct advantages to choosing a local practitioner, in your case a conveyancing solicitor in Kineton.
I'm buying a new build house in Kineton benefiting from help to buy. The developers would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent advised me not reveal to my lawyer about this deal as it would adversely affect my loan with the bank. Is this normal?.
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.
Over the last few months I have been searching for a flat up to £195,000 and identified one round the corner in Kineton I like with open areas and railway links in the vicinity, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Kineton for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
Am in the process of buying my 1st house in Kineton. Conveyancing solicitor already instructed. The mortgage adviser pointed out that a survey is not necessary as the house was only built 22 years ago.
You would be best advised to commission a Home Buyer's Report. As the residence is more than ten years old the property will not benefit from a warranty, so you would be well advised not to take a risk. Where a property of this age shows no signs of defects a Home Buyer's report could suffice. They will highlight any apparent problems and recommend additional investigation where relevant. If there are any indications of problems seek a comprehensive Building Survey from the beginning.