My fiancee and I are spending time looking at houses in Lydiate and I am now considering a potential offer. Is it best to have my lawyer on ‘stand by’? I intend to finance via a home loan with Yorkshire BS.
It would be advisable to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are seeking a mortgage with Yorkshire BS, ask your prospective lawyers if they are on the Yorkshire BS conveyancing panel otherwise they can't do the mortgage legal work.
I have decided to exercise my right to buy my property in Lydiate off the council. I have a mortgage offer with Bank of Ireland. Conveyancing is new to me. 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 Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
The mortgage over my property is with Nottingham for my property in Lydiate. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nottingham?
You must advise Nottingham in advance of letting out your property as this is likely to be a breach of Nottingham’s mortgage conditions. It may be that Nottingham 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 Nottingham directly. You need not do this via a Nottingham conveyancing panel solicitor.
Are there restrictive covenants that are commonly identified during conveyancing in Lydiate?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Lydiate. 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'm purchasing a new build house in Lydiate with the aid of help to buy. The developers would not reduce the amount so I negotiated 6k of extras instead. The estate agent advised me not to tell my solicitor about this extras as it could impact my mortgage with the bank. Should I keep quiet?.
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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Lydiate is the location of the property. Can you offer any assistance?
Flying freeholds in Lydiate are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lydiate you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lydiate 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 residence.
Hoping to buy a property located in Lydiate and I am already nervous. I couldn't find anything specific about Lydiate. Conveyancing will be needed in due course but do you know about the Lydiate area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Lydiate. In the meantime here are some basic statistics that we found
My a dozen years ago. He has got wed, widowed and in recent months got remarried. He now wishes to the sell the Lydiate property. I think he will simply be need to supply copies of the marriage certificates to the property lawyer but he is anxious it could delay the home sale. Is it worth updating the Land Registry details for the property?
It is not absolutely necessary to bring up to date the register on the basis that you have the proof required to demonstrate how the change of name occurred.
Any buyer’s conveyancer will examine the land registry details and request evidence to establish the name change e.g. marriage certificates.