I am getting a mortgage offer from Nat West. My intention is to instruct a Licensed Conveyancer in Stockport. Does the Nat West Conveyancing panel allow for conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Planning on purchasing a house in Stockport. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Stockport conveyancing practitioner is on the Kent Reliance conveyancing panel.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Stockport solicitor - who is on the Yorkshire BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Stockport postcode. As you are getting a mortgage with Yorkshire BS, you could contact them to see if they have a list of approved surveyors in Stockport.
After what seems like an age I have had an offer on a maisonette in Stockport agreed to, but there is a chain. The sellers have offered on on an apartment, but it’s not been accepted yet, and are looking at other flats in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Stockport. What do I do now? When should I get the mortgage application with Lloyds going?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of one thousand pounds, then valuation, Stockport conveyancing search costs, etc). The first course of action is to check that your lawyer is on the Lloyds approved list. Concerning the next steps this very much depends on the circumstances of your transaction, motivation for the property and on the state of the market. In a hot market some buyers will apply for a home loan with Lloyds and arrange for the valuation and only if it comes back ok would they request their lawyer to proceed with searches.
I have recentlybeen informed that Wolstenholmes have been shut down. They conducted my conveyancing in Stockport for a purchase of a leasehold apartment 18 months ago. How can I establish that the property is not still registered in the name of the previous owner?
The quickest method to see if the premises is registered to you, you can carry out 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 Stockport conveyancing specialists.
I am buying a new build flat in Stockport. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Stockport
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I decided to have a survey carried out on a property in Stockport before retaining lawyers. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some banks may refuse to issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Stockport. Conveyancing will be smoother if you use a solicitor in Stockport especially if they are familiar with such properties in Stockport.
Me and my wife have agreed a price on a Stockport property left to us 5 years ago in 2012. I have over 12 years conveyancing experience and, now retired, wish to conduct my own conveyancing. The buyer's solicitor has informed me that their mortgage company will not allow us to do our own conveyancing requiring the funds to be transferred to a solicitor's bank account.
Mortgage requirements to property lawyers from all CML members state that If the seller does not have legal representation the borrower's lawyers should check whether the lender needs to be informed so that a decision can be reached as to whether or not they are willing to move forward.