I am purchasing a house without a mortgage in Wellesbourne. I have lived for the last 20 years in Wellesbourne. Conveyancing searches are expensive. As I know the road and vicinity intimately should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then almost all of the Wellesbourne conveyancing searches are non-obligatory. Your lawyer will ’encourage you, perhaps strongly, that you should have searches carried out, but she is duty bound to take that path of encouragement . Do bear in mind; if you are likely to sell the house in the future, it will likely be be of relevance to your future buyer what the searches contain. On occasion premises with apparent issues can still show up detrimental search results. A competent conveyancing solicitor in Wellesbourne should be able to give you some practical advice concerning this.
I am considering applying for a Leeds Building Society mortgage for purchase of a new build (under development) in Wellesbourne with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Leeds Building Society ?
There is nothing to stop you using your solicitor, but Leeds Building Society 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.
Should our conveyancer be raising enquiries regarding flooding during the conveyancing in Wellesbourne.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Wellesbourne. There are those who purchase a house in Wellesbourne, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, but there are a various checks that can be undertaken by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Wellesbourne. The standard completed inquiry forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the vendor to determine if the premises has ever been flooded. In the event that flooding has previously occurred which is not revealed by the owner, then a buyer could bring a legal claim for losses resulting from an inaccurate reply. The purchaser’s lawyers should also carry out an environmental search. This should indicate if there is any known flood risk. If so, more detailed investigations will need to be carried out.
I have recentlybecome aware that Wolstenholmes have closed. They conducted my conveyancing in Wellesbourne for a purchase of a freehold house 18 months ago. How can I be sure that the property is registered correctly in the name of the previous owner?
The easiest way to check if the premises is in your name, 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 Wellesbourne conveyancing specialists.
I'm buying a new build house in Wellesbourne benefiting from help to buy. The builders would not move on the price so I negotiated 6k of additionals instead. The sale representative suggested that I not disclose to my lawyer about the deal as it may jeopardize my loan 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.
I decided to have a survey done on a property in Wellesbourne prior to instructing lawyers. I have been told that there is a flying freehold element to the property. The surveyor has said that some banks will refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wellesbourne. Conveyancing may be slightly more expensive based on your lender's requirements.