I am hoping to receive a mortgage offer from Nat West. My intention is to retain the legal services of a Licensed Conveyancer in Nottingham. Does the Nat West Conveyancing panel allow for conveyancers regulated by the CLC?
The Nat West conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My uncle passed away six months ago and as sole heir and executor I was left the house in Nottingham. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Aldermore will require that you use a conveyancer on the Aldermore conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore mortgage is registered as a charge at the Land Registry.
I am currently in the process of buying my council flat in Nottingham. I have a mortgage offer with Lloyds. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
I have a mortgage with Principality for my property in Nottingham. Conveyancing was finalised months 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 buy-to-let mortgage or inform Principality?
You must advise Principality before renting 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. You need not do this via a Principality conveyancing panel lawyer.
RBS have agreed my mortgage in principle, my offer on a apartment in Nottingham has been agreed to, what happens next?
Your property agent will wish to be advised as to your property lawyer's details (ensure that the lawyers are on the lender’s approved list). Contact RBS or your broker and finalise any relevant forms. RBS will sellect a valuer who will get in contact with the selling agent or vendor to schedule a slot for the valuation to happen. Once carried out (assuming no problems) it takes approximately a week to receive the mortgage offer. RBS will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Nottingham.
My relative recommended that if I am purchasing in Nottingham I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Nottingham conveyancing searches. It is a large document of more than thirty pages, listing and setting out significant information about Nottingham around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Nottingham Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful data regarding Nottingham.
Are there restrictive covenants that are commonly identified as part of conveyancing in Nottingham?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Nottingham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Nottingham differ for newly converted properties?
Most buyers of new build or newly converted property in Nottingham 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 new home sellers in Nottingham usually purchase 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 used to new build conveyancing in Nottingham or who has acted in the same development.