I am considering applying for a Clydesdale mortgage for purchase of a new build (under development) in Swadlincote with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Clydesdale ?
There is nothing to stop you using your solicitor, but Clydesdale will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
The mortgage over my property is with UBS for my property in Swadlincote. Conveyancing was finalised months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform UBS?
UBS must be informed of your intention prior to letting out your property as this is likely to be a breach of UBS’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 UBS directly. You need not do this via a UBS conveyancing panel lawyer.
I recently had an offer agreed on a house in Swadlincote. My mortgage broker recommended their conveyancers. I paid an on account payment of £200. A few days later, the lawyer contacted me sheepishly admitting that they were not on the Clydesdale conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Clydesdale panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I've read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Swadlincote solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society 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 solicitor 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 Swadlincote postcode. As you are getting a mortgage with Leeds Building Society, you could contact them to see if they have a list of approved surveyors in Swadlincote.
How does conveyancing in Swadlincote differ for new build properties?
Most buyers of new build premises in Swadlincote contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is ready to move into. This is because new home sellers in Swadlincote 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 accustomed to new build conveyancing in Swadlincote or who has acted in the same development.
I decided to have a survey done on a house in Swadlincote before appointing solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some lenders will not give a loan on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Swadlincote. Conveyancing will be smoother if you use a solicitor in Swadlincote especially if they are accustomed to such properties in Swadlincote.
My uncle has encouraged me to use his conveyancing solicitors in Swadlincote. Should I use them?
No doubt it’s preferable to find a conveyancing practitioner is to get referrals from friends or family who have actually used the firm you're contemplating using.
I am on look out for some leasehold conveyancing in Swadlincote. Before diving in I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Swadlincote - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a 1st floor flat in Swadlincote, conveyancing having been completed in 2012. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Swadlincote with an extended lease are worth £207,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease runs out on 21st October 2082
You have 57 years left to run we estimate the price of your lease extension to range between £28,500 and £33,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.