I am getting a mortgage with Santander. My intention is to retain the legal services of a Licensed Conveyancer in Moss Nook. Does the Santander Conveyancing panel include conveyancers regulated by the CLC?
The Santander conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
We see that you have a search directory listing solicitors on the Lloyds conveyancing panel. Do companies pay you a commission if I retain them for our conveyancing in Moss Nook?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Moss Nook.
We are buying a detached bungalow in Moss Nook. Our aim is to carry out an extension to the side at the house.Will legal due diligence on the property include investigations to ascertain if these alterations were previously refused?
Your property lawyer should review the registered title as conveyancing in Moss Nook can on occasion identify restrictions in the title deeds which prevent categories of works or necessitated the permission of another owner. Many extensions require local authority planning permissions and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be wise to check these things with a surveyor ahead of any purchase.
I have a mortgage with Aldermore for my property in Moss Nook. Conveyancing was finalised 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 BTL mortgage or inform Aldermore?
Your original mortgage agreement with Aldermore will provide that you need their approval prior to letting out your property as this is likely to be a breach of Aldermore’s mortgage conditions. It may be that Aldermore 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 Aldermore directly. You need not do this via a Aldermore conveyancing panel solicitor.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Moss Nook bank branch on various occasions and was reassured it wasn't an issue and they would lend. My Moss Nook conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they would not lend based on their specific requirements. Who do I believe?
Your conveyancing practitioner has to comply with the CML Handbook Part 2 provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am buying a new build house in Moss Nook with a mortgage from Yorkshire Building Society. The builders would not reduce the price so I negotiated £7000 of additionals instead. The property agent told me not inform my conveyancer about the deal as it will affect my loan with the lender. 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.
What does commercial conveyancing in Moss Nook cover?
Moss Nook conveyancing for business premises incorporates a broad array of services, offered by qualified solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I am a negotiator for a busy estate agency in Moss Nook where we have witnessed a number of flat sales put at risk as a result of short leases. I have received conflicting advice from local Moss Nook conveyancing solicitors. Could you confirm whether the vendor of a flat can instigate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Leasehold Conveyancing in Moss Nook - Examples of Questions you should ask Prior to Purchasing
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Please tell me if there are any major works in the planning that will increase the maintenance costs? On the whole the outlay for major works are not included within service charges, although there some managing agents in Moss Nook obliged leaseholders to pay into a reserve fund and this is used to offset against larger repairs or maintenance. Is there a share of the freehold?