My property lawyer in Marlow has never been on on the Lloyds TSB Bank Solicitor Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are excluded from the Lloyds TSB Bank list of approved lawyers?
Your options are as follows:
- Carry on with your preferred Marlow lawyers but Lloyds TSB Bank will need to instruct a lawyer on their list of acceptable firms. This will result in additional overall legal fees as well as result in delays.
- Find a new solicitor to to deal with the conveyancing, not forgetting to check they are on the Lloyds TSB Bank panel
Please help - my lawyer advises that flying freehold insurance is required on my purchase. What is the level of cover for Marlow conveyancing?
The right level of flying freehold indemnity insurance depends on your lender. It would differ for example between Accord Mortgages Ltd and Barnsley Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
I currently have a mortgage with Skipton for my property in Marlow. Conveyancing was finalised 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?
You must advise Skipton before renting your property as this is likely to be a breach of Skipton’s mortgage conditions. It may be that Skipton 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 am due to exchange contracts on my flat. I had a double glazing fitted in November 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Virgin Money are being difficult. The Marlow solicitor who is on the Virgin Money conveyancing panel is recommending indemnity insurance as a solution but Virgin Money are insisting on a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money 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.
five months have elapsed since my purchase conveyancing in Marlow completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. 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 new build properties?
Most buyers of new build property in Marlow come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Marlow typically buy the real estate, 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 conveyancing solicitors 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 father I am disposing of a residence in Monmouth but reside in Marlow. My solicitor (who is 300 miles from meneeds me to sign a stat dec prior to the transaction finalising. Could you suggest a conveyancing practitioner in Marlow who can witness and place their company stamp on the document?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are based in Marlow
I am short of a 10% deposit on my flat purchase in Marlow , but I am anxious exchange. What can I do?
You can accept a lower deposit. Many sellers will agree to a lower 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