Me and my partner are buying a 3 bedroom apartment in New Milton with a mortgage. We like our New Milton solicitor, however the lender advise he's not on their "panel". We have to appoint one of the bank panel solicitors or keep our New Milton property lawyer as well as pay for one of their panel firms to act for them. We consider that this is unjust; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your New Milton conveyancing lawyer to apply to be on the conveyancing panel.
I'm the single beneficiary of my late grandmother’s will and I have everything in my name alone, including the my former home in New Milton. The New Milton property was put into my name in May. I want to move. I understand that there is a CML six month 'rule', meaning my proprietorship could be considered the same way as if I'd bought the property in May. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. How sensible a view lenders take of it, depend on the mortgage company as this obligation is chiefly there to identify the purchase and immediately sell or the flipping of property.
Is it correct that all New Milton CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing panel?
A selection of banks and building societies now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
I have finally had an offer on a flat in New Milton agreed to, but there is a chain. The sellers have offered on somewhere, but it’s not yet agreed to, and have viewings of other properties booked. I have selected a bricks and mortar conveyancing solicitor in New Milton. What should be my next step? When do I get the mortgage application with UBS going?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is approx £1k, then valuation, New Milton conveyancing search charges, etc). First, you should check that your lawyer is on the UBS approved list. Regarding the next phase this very much dictated by the circumstances of your transaction, motivation for the property and on the state of the market. In a rising market some buyers would apply for a home loan with UBS and pay for the valuation and only if it comes back ok would they ask their property lawyer to proceed with searches.
What will a local search tell me concerning the property we're buying in New Milton?
New Milton conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations such as Xpress Legal The local search plays an important part in most New Milton conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your property. The search should reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
How does conveyancing in New Milton differ for newly converted properties?
Most buyers of new build property in New Milton approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in New Milton usually purchase 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 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 used to new build conveyancing in New Milton or who has acted in the same development.
I have been on the look out for a ground for flat up to £195,000 and identified one near me in New Milton I like with amenity areas and station in the vicinity, however it's only got 61 remaining years left on the lease. There is not much else in New Milton for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
In my capacity as executor for the will of my uncle I am disposing of a property in Neath but I am based in New Milton. My conveyancer (who is 260 kilometers awayneeds me to execute a statutory declaration before the transaction finalising. Can you recommend a conveyancing lawyer in New Milton to attest and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are based in New Milton