I plan on acquiring a flat in Nailsea. My property lawyer is not listed on the mortgage company approved list. Is it possible for me to use my Nailsea conveyancing solicitor notwithstanding that they are not on the mortgage company panel?
You have numerous options open to you here
- Complete the deal with your chosen Nailsea property lawyer but your bank will need to appoint a conveyancing practitioner on their conveyancing panel. The net result is additional fees and probable interruption.
- Get a new conveyancing practitioner to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Convince your lawyer to pull out all the stops to get listed on the lender’s conveyancing panel
We have agreed to purchase a house in Nailsea. A rare aspect is that the roof has a solar panel. Principality have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Principality your lawyer must follow the formal instructions set out in Section two of UK Finance Lenders’ Handbook for Principality. The CML Handbook contains minimum specifications for solar panel roof-space leases, and lawyers are required to report to Principality where a lease fails to satisfy these conditions. The requirements relate to the installation of panels on properties in England and Wales and is not limited to Nailsea.
I have a mortgage with Principality for my property in Nailsea. Conveyancing has been completed some time ago. Should I wish 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 Principality?
Principality must be informed of your intention in advance of renting your property as this is likely to be a breach of Principality’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 Principality directly. You need not do this via a Principality conveyancing panel lawyer.
Barclays have agreed my mortgage in principle, my offer on a house in Nailsea has been agreed to, what happens next?
The estate agent will wish to know who your solicitors are (ensure that the conveyancers are on the bank’s approved list). Telephone Barclays or your financial adviser and complete any outstanding documentation. Barclays will sellect a valuer who will get in contact with the selling agent or vendor to book an appointment. Once conducted (assuming no problems) it takes about a fortnight to receive the mortgage offer. Barclays will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Nailsea.
A relative recommended that if I am buying in Nailsea I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Nailsea conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Nailsea around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Nailsea Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information regarding Nailsea.
How does conveyancing in Nailsea differ for newly converted properties?
Most buyers of new build property in Nailsea come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Nailsea typically buy the site, 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 property lawyers 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 used to new build conveyancing in Nailsea or who has acted in the same development.
I'm remortgaging my primary property to a buy to let loan with Skipton Building Society and I will use the rest of the raised equity as a deposit on another property. The area we are interested in is Nailsea. Will your conveyancers be able to act for both sets of mortgage companies and link together the two deals?
Do use our search tool on this page to be sure that the solicitors are approved by both mortgage companies. Assuming that they are the conveyancer will be able to simultaneously deal with the two transactions but you should talk with you solicitor and communicate your desired outcome and needs.
My aunt purchased her house in Nailsea in 2007. She has since got married, divorced and in recent months got married again. She now intends to the sell the Nailsea property. I suspect that she will simply be need to provide a copy of her marriage certificates to the property lawyer however she is worried it could hold up the conveyancing. Is it worth updating the land title details for the property?
The is no need to bring up to date the register providing you have the proof required to demonstrate how the change of name resulted.
The buyer’s solicitor will review the registered entries and request evidence to establish the change of name for instance marriage certificates.