I am considering applying for a Principality mortgage for purchase of a newly converted (under development) in Piccadilly with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Principality ?
There is nothing to stop you using your solicitor, but Principality will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
The deeds to my house are lost. The solicitors who handled the conveyancing in Piccadilly 4 years ago are no longer around. What are my options?
As long as the title is registered the information relating to your proprietorship will be documented by the Land Registry with a Title Number. It is possible to execute a search at the Land Registry, identify your house and get up to date copies of the property title for less than a fiver. If the property is Leasehold then the Land Registry will in most cases hold a file duplicate of the Registered Lease and again, a copy can be obtained for twenty pounds.
I am buying my first flat in Piccadilly with a mortgage from Bank of Scotland. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not reveal to my conveyancer about the extras as it would put at risk my loan 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 opted to have a survey completed on a house in Piccadilly prior to instructing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies will not issue a loan on this type of house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. If you contact us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Piccadilly. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Piccadilly to see if the conveyancing will be more expensive.
How do I use the search tool to select a conveyancing solicitor in Piccadilly on the authorised to act for my lender?
Step one is to pick a mortgage company such as Lloyds TSB Bank, Leeds Building Society or Aldermore then choose your preferred area a common one being Piccadilly. Conveyancing firms in Piccadilly and across England and Wales will then be identified.
Estate agents have just been given the go-ahead to market my garden apartment in Piccadilly.Conveyancing has not commenced however I have just received a quarterly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal given that all rents and service invoices will be allottedas part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially