I am getting closer to an exchange on a house in Manor House and my parents have sent the ten percent deposit to my property lawyer. I am now advised that as the deposit has not arrived from me my conveyancer needs to make a notification to my bank. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
Your lawyer is obliged to clarify with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
We are buying a flat and require a conveyancing solicitor in Manor House who is on the Kent Reliance approved panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Kent Reliance . We don't recommend any particular firms conducting conveyancing in Manor House.
The mortgage over my property is with Skipton for my property in Manor House. Conveyancing has been completed some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?
Your original mortgage agreement with Skipton will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Skipton directly. You need not do this via a Skipton conveyancing panel solicitor.
After much negotiation I have agreed a price on a house in Manor House. My mortgage broker recommended their conveyancers. I paid an upfront payment of £225. A couple of days later, the solicitor called me embarrassingly acknowledging that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have finally had an offer on an apartment in Manor House agreed to, but there is a chain. The vendors have placed an offer on a property, however it’s not been accepted yet, and are looking at other flats in the pipeline. I have chosen a high street conveyancing solicitor in Manor House. What do I do now? At what stage do I apply for the mortgage with HSBC?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then survey, Manor House conveyancing search fees, etc). First, you must check that your solicitor is on the HSBC conveyancing panel. As to the next stages this very much depends on the uniqueness of your transaction, attraction to this property and on the state of the market. During a rising market the majority of buyers would apply for a home loan with HSBC and arrange for the valuation and only if it comes back ok would they pay their conveyancer to press on with searches.
Are there restrictive covenants that are commonly identified as part of conveyancing in Manor House?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Manor House. 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 purchasing a new build house in Manor House with a loan from The Mortgage Works. The builders would not move on the price so I negotiated five thousand pounds worth of extras instead. The sale representative told me not to tell my lawyer about this extras as it may put at risk my mortgage with The Mortgage Works. 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.
I'm refinancing my primary property to a buy to let loan with National Westminster Bank and I will use the rest of the raised equity towards further house. The neighborhood we are looking at is Manor House. Will your conveyancers be able to act for both sets of banks and tie in the conveyances?
Make use of our comparison tool on this site to ensure that the solicitors are on the appropriate lender panels. On the basis that they are your conveyancer will be able to simultaneously deal with the two conveyancing matters but you should talk with you conveyancer and specify your expectations and needs.