My Conveyancer in Marlow is not listed on the Lloyds TSB Bank Approved Panel. Can I still use my prefered solicitor even though they are excluded from the Lloyds TSB Bank approved list?
The limited options available to you here include:
- Carry on with your preferred Marlow lawyers but Lloyds TSB Bank will need to use a lawyer on their panel. This will result in additional overall conveyancing charges as well as cause delays.
- Choose a new lawyer to act in the conveyancing, remembering to check they are on the Lloyds TSB Bank panel
My conveyancer has informed me that restrictive coveneant insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Marlow?
The appropriate level of restrictive coveneant indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and Barnsley Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
The mortgage over my property is with Bank of Ireland for my property in Marlow. Conveyancing was finalised months 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 buy-to-let mortgage or inform Bank of Ireland?
Bank of Ireland must be informed of your intention in advance of letting out your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. It may be that Bank of Ireland 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 Bank of Ireland directly. You need not do this via a Bank of Ireland conveyancing panel lawyer.
I am due to exchange contracts on my house. I had a double glazing fitted in October 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Skipton are being difficult. The Marlow solicitor who is on the Skipton conveyancing panel is recommending indemnity insurance as a solution but Skipton are requiring a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
three months have gone by following my purchase conveyancing in Marlow concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Marlow differ for newly converted properties?
Most buyers of new build premises in Marlow contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in Marlow tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Marlow or who has acted in the same development.
As co-executor for the will of my aunt I am selling a house in Newport but live in Marlow. My conveyancer (who is 235 kilometers awayrequires that I sign a statutory declaration before completion. Can you recommend a conveyancing practitioner in Marlow who can attest and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are based in Marlow
I have miscalculated my finances and am a couple of thousand pounds short a 10% deposit on my flat purchase in Marlow , but I still want to proceed. Do I have options?
One option is to try and agree a lesser deposit. Most sellers will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment