Our conveyancer has identified a a legal deficiency with the lease for the flat we are buying in St Neots. The other side have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer says that he must be satisfied that the bank is willing to move forward with this solution. Who is the client here, us or the lender?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. The appropriate lender specifications must be adhered to.
Can your site be used to find a Conveyancing solicitor in St Neots even if I’m not buying or disposing of a house, for example where I wish to buy an office in St Neots with a mortgage from Barnsley Building Society?
Our search tool is predominantly used to find domestic conveyancing solicitors in St Neots but we have set out at the bottom of this page some St Neots commercial conveyancing firms. You will need to make contact with the solicitors directly to establish if they can also act for Barnsley Building Society
I have justdiscovered that Stirling Law have been shut down. They conducted my conveyancing in St Neots for a purchase of a leasehold flat 12 months ago. How can I establish that the property is in my name in the name of the previous owner?
The easiest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of St Neots conveyancing specialists.
I'm purchasing a new build house in St Neots benefiting from help to buy. The developers would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not inform my conveyancer about the deal as it will adversely affect my mortgage with the bank. Is this normal?.
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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. St Neots is the location of the property. Can you offer any advice?
Flying freeholds in St Neots are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside St Neots you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Neots may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Should I go with a St Neots conveyancing lawyer in close proximity to the house I am hoping to buy? An old friend can handle the legal formalities however her office is 300kilometers drive away.
The benefit of a local St Neots conveyancing firm is that you can visit the firm to sign documents, present your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and they were happy that should surpass using an unfamiliar St Neots conveyancing lawyer solely due to them being round the corner.