Unfortunately I am unable to travel far from Swinton. Please explain the reason why all Swinton conveyancing practitioners are not on all lender panels?
A decade ago most banks demonstrated an approach to risk which is different from today. The financial regulator in 2010 carried out a thematic review into property fraud which in summary warned lenders: know the solicitors on your panel. Consequently, mortgage companies have since looked to extract more data from law firms concerning their processes and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Many law practices have found themselves excluded from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the minimum volume of transactions the mortgage companies set.
In the event thatI was to purchase a freehold homein Swinton for cash and have no survey and no local authority searches how much could I expect to have to pay for conveyancing in Swinton?
The sole reduction in fees you would achieve is the Swinton conveyancing searches. A property lawyer still be obliged to do everything else - money laundering, correspond with the sellers solicitor, stamp duty submission, register the title etc. A slight saving might be made by not having to register a charge but it will not be significant.
I currently have a mortgage with Co-operative for my property in Swinton. Conveyancing was finalised 12 months ago. If I am intending 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 Co-operative?
You must advise Co-operative before renting your property as this is likely to be a breach of Co-operative’s mortgage conditions. It may be that Co-operative will allow you to rent 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 Co-operative directly. It should not be necessary to do this via a Co-operative conveyancing panel lawyer.
Barclays have agreed my home loan in principle, my bid on a house in Swinton has been accepted, what happens next?
The estate agent will need to be advised as to your solicitor's details (ensure that the solicitors are on the lender’s panel). Telephone Barclays or your broker and finalise any relevant paperwork. Barclays will appoint a valuer who will get in touch with the estate agent or seller to arrange an appointment. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. Barclays will send the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Swinton.
After what seems like an age I have had an offer on a maisonette in Swinton accepted, the owners do nevertheless have a connected purchase. The sellers have put an offer on on an apartment, but it’s not yet agreed to, and have viewings of other properties in the pipeline. I have selected a nearby conveyancing solicitor in Swinton. What do I do now? When should I get the mortgage application with Yorkshire BS going?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (home loan application is in the region of £1k, then survey, Swinton conveyancing search costs, etc). The first course of action is to ensure that your conveyancer is on the Yorkshire BS approved list. Regarding the subsequent steps this very much dictated by the specifics of your case, desire for the property and on the state of the market. During a rising market many buyers would apply for the mortgage with Yorkshire BS and arrange for the valuation and only if it was satisfactory would they ask their lawyer to move forward with the conveyancing in Swinton.
I am planning on selling our home in Swinton and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A high street Swinton conveyancer would know that there is no such problem. It does beg the question why the buyers instructed a web based conveyancing firm as opposed to a conveyancing solicitor in Swinton. We have lived in Swinton for three years we know that this is a non issue. Do we contact our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I decided to have a survey done on a house in Swinton ahead of retaining solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some lenders will not grant a loan on such a premises.
It varies from the lender to lender. Santander has different requirements from Nationwide. Should you wish to telephone us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Swinton. Conveyancing will be smoother if you use a solicitor in Swinton especially if they are acquainted with such properties in Swinton.
My mum and dad are unable to locate their Swinton property on the HMLR website. They recall that sixty years ago when they bought the house there were complications concerning Swinton not being identified on some systems.
The vast majority of properties in Swinton should show up. Have you tried a search with simply the postcode. Ordinarily it should reveal all the residences inside the postcode. Assuming the property is registered it will show up with a title number. Where they bought back in the 70’s it's conceivable it may be not yet registered. The property may still be revealed but with the title number shown 'na'. In this scenario you will need to track down the original title deeds which may be with your parent’s mortgage company.