I have todaybecome aware that Stirling Law have closed. They carried out my conveyancing in Wylam for a purchase of a freehold house 10 months ago. How can I check that the property is in my name in the name of the previous owner?
The easiest way 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 Wylam conveyancing specialists.
I am purchasing a new build house in Wylam with a loan from Nottingham Building Society. The builders refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent advised me not inform my solicitor about this extras as it may impact my mortgage with the lender. Should I keep quiet?.
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 have been on the look out for a leasehold apartment up to £235,500 and found one round the corner in Wylam I like with open areas and railway links in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Wylam in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
I'm refinancing my existing property to a buy to let mortgage with HSBC Bank and intend to use the remaining equity towards another house. The location we are interested in is Wylam. Will your conveyancers be able to act for the two lenders and link together the conveyances?
Do use our comparison tool on this site to check that the conveyancers are approved by both mortgage companies. Having checked that they are your solicitor should be able to tie up the two deals but you should have a chat with you solicitor and specify your desired outcome and requirements.
I am one month into a residential purchase having been recommend to a firm by the local agent to do our conveyancing in Wylam. We are not happy. Can you you assist me in finding new conveyancers?
A solicitor would have to be very bad in order to consider changing them. Has your mortgage been sent? If so you must inform them of the new contact details and have the offer are re-issued. Your solicitor ideally should be on the mortgage company approved list to avoid added fees and frustration. That should be your first question of the new conveyancers. Our search tool should help you find a bank approved lawyer for your conveyancing in Wylam
What is the reason for my property lawyer requiring various items of identification before they can commence with my conveyancing in Wylam?
Wylam solicitors are obliged by the Law Society, Solicitors Regulation Authority, HM Land Registry and current Money Laundering legislation to record that the have verified the identity of their clients. It is also sometimes a requirement of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have information such as your full names, national insurance number and date of birth.