I am hoping to receive a mortgage offer from Santander. I would like to use a Licensed Conveyancer in Market Bosworth. Does the Santander Solicitor panel allow for Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I am assisting my step-mother sell her property in Market Bosworth. Does the conveyancing solicitor commission an EPC or it is for the owner to coordinate?
After the demise of Home Packs, energy assessments became a required element of selling a property. An energy assessment needs to be commissioned in advance of the property being marketed. This is not a task that solicitors ordinarily arrange. Where you are using a Market Bosworth conveyancing solicitor they may be able to arrange EPC’s due to their relationships with long established local providers
I currently have a mortgage with Skipton for my property in Market Bosworth. Conveyancing has been completed months ago. In the event that I decide 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 Skipton?
Skipton must be informed of your intention prior to 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 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 Skipton directly. It should not be necessary to do this via a Skipton conveyancing panel lawyer.
I have finally had an offer on an apartment in Market Bosworth agreed to, but there is a chain. The vendors have offered on on an apartment, however it’s not yet tied up, and are looking at other apartments booked. I have instructed a local conveyancing solicitor in Market Bosworth. What should be my next step? At what point should I apply for the mortgage with Skipton?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then valuation, Market Bosworth conveyancing search fees, etc). First, you must check that your property lawyer is on the Skipton conveyancing panel. As to the next phase this very much dictated by the specifics of your transaction, attraction to the property and on the state of the market. During a rising market many purchasers will apply for a home loan with Skipton and pay for the valuation and only if it comes back ok would they pay their solicitor to proceed with searches.
Will my conveyancer be asking questions about flooding during the conveyancing in Market Bosworth.
Flooding is a growing risk for solicitors dealing with homes in Market Bosworth. Some people will acquire a house in Market Bosworth, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, however there are a number of searches that may be initiated by the buyer or by their conveyancers which will give them a better appreciation of the risks in Market Bosworth. The conventional set of information sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the seller to determine if the property has ever been flooded. In the event that the premises has been flooded in past and is not disclosed by the seller, then a purchaser could issue a compensation claim as a result of such an incorrect answer. The buyer’s solicitors will also order an environmental report. This should higlight whether there is any known flood risk. If so, additional inquiries should be conducted.
I own a semi-detached Georgian property in Market Bosworth. Conveyancing lawyer represented me and Virgin Money. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the exact same property. Is it worth asking Virgin Money to clarify?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Market Bosworth and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing lawyer who conducted the work.
I am purchasing a new build house in Market Bosworth benefiting from help to buy. The builders refused to move on the price so I negotiated 6k of additionals instead. The sale representative suggested that I not disclose to my lawyer about the side-deal as it will adversely affect 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 guidance of my in-laws I had a survey completed on a property in Market Bosworth before instructing conveyancers. I have been told that there is a flying freehold element to the house. My surveyor has said that some mortgage companies tend refuse to give a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. Should you wish to call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Market Bosworth. Conveyancing may be slightly more expensive based on your lender's requirements.