As someone not used to the Newmarket conveyancing process what is the number one tip you can impart concerning the house moving process in Newmarket
You may not hear this from too many lawyers but conveyancing in Newmarket and elsewhere in Suffolk is an adversarial process. In other words, when it comes to conveyancing there exists lots of opportunity for conflict between you and other parties involved in the ownership transfer. For example, the vendor, estate agent and even potentially your mortgage company. Selecting a lawyer for your conveyancing in Newmarket an important selection as your conveyancer is your adviser, and is the ONLY party in the legal process whose role it is to look after your best interests and to protect you.
We are witnessing a definite ongoing adversarial element to conveyancing- someone has to be blamed for the process taking so long. You your first instinct should be to trust your solicitor ahead of the other players when it comes to the legal assignment of property.
This question may be naive but I am unexperienced as FTB of a garden flat in Newmarket. Do I pick up the keys to the house on completion from my solicitor? If so, I will instruct a High Street conveyancing solicitor in Newmarket?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the purchase money to the vendor’s solicitors, and once they have received this, you will be invited to collect the keys from the Estate Agents and start moving into the property. Usually this occurs early afternoon.
We have agreed to purchase a house in Newmarket. An unusual aspect is that the roof has a solar panel. UBS 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 UBS your lawyer must comply with the conveyancing instructions set out in Section 2 of UK Finance Lenders’ Handbook for UBS. The CML Handbook stipulates minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to UBS where a lease fails to satisfy these provisions. The conditions relate to the installation of panels on properties countrywide and is not isolated to Newmarket.
I currently have a mortgage with Principality for my property in Newmarket. Conveyancing was finalised some time ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Principality?
Principality must be informed of your intention before letting out your property as this is likely to be a breach of Principality’s mortgage conditions. In many cases banks or building societies 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 Principality directly. It should not be necessary to do this via a Principality conveyancing panel lawyer.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to take this when buying a house in Newmarket? or I am told that there is historic law that means some house owners living in a parish church boundary will be compelled to contribute towards repairs towards the chancel within the church. Is this appropriate for conveyancing in Newmarket?
Unless a previous acquisition of the property took place after 12 October 2013 you could expect lawyers handling conveyancing in Newmarket to continue to advocate a chancel search and or chancel repair liability policy.
I'm purchasing a new build house in Newmarket with a mortgage from The Mortgage Works. The sellers would not move on the amount so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not reveal to my solicitor about this deal as it would impact my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I decided to have a survey done on a property in Newmarket ahead of instructing solicitors. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some banks tend refuse to grant a loan on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Newmarket. Conveyancing will be smoother if you use a solicitor in Newmarket especially if they are familiar with such properties in Newmarket.
My partner and I are searching for a dependable conveyancing lawyer in Newmarket to assist me in selling my place. I want to avoid being ripped off and there are lots of Newmarket conveyancing firms out there...who's the best?
If you’ve not instructed a solicitor previously, a personal recommendation through family or friends is a preferable starting point and is often a good gauge of quality. Alternatively, consult the Law Society’s online record of conveyancing solicitors in Newmarket or make use of our search tool to choose a conveyancing lawyer in Newmarket.