We are acquiring a brand new apartment in Standish and my conveyancer is telling me that she has to the bank to disclose incentives from the builder. I am under pressure to exchange and my preference is not to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My uncle passed away six months ago and as sole heir and executor I was left the property in Standish. The house had a small mortgage left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Co-operative, pay off the mortgage. Is this allowed?
Where you intend to re-mortgage then Co-operative will require that you use a conveyancer on the Co-operative 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 Co-operative 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 Co-operative mortgage is registered as a charge at the Land Registry.
How does conveyancing in Standish differ for newly converted properties?
Most buyers of new build residence in Standish come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Standish tend to buy the land, 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 property lawyers 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 Standish or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one round the corner in Standish I like with a park and transport links in the vicinity, however it only has 51 years on the lease. There is not much else in Standish in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease may be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
Are there any apps to help locate a Standish solicitor on the Nationwide Building Society conveyancing panel? I am a keen cyclist and am happy to travel upto 25kilometers to meet the lawyer.
You can use the facility on this page. Please pick a mortgage company and your location and you will see a number of Standish conveyancing lawyers based on proximity. We have detailed some Standish conveyancing firms towards the end of this page and you can ring them to verify whether they are on the Nationwide Building Society approved list
I am buying a house with all finances in place. I have provided conveyancer with two separate forms of photographic ID, bank statement, endless utility bills. Now he wants a copy from a probate lawyer acknowledging that the funds are in order and that it has come from inheritance and not dealing E's in Ibiza.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Standish conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.