We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Is the implication that I have to use their panel conveyancer as I would much rather appoint a high street conveyancing solicitor in Yateley?
Do check but the chances are that appoint one of their panel solicitors where you take up the "fee-free" offer. Contact the bank and ask if they offer you a monetary alternative. Some lenders have previously offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Yateley.
I happen to be the single recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Yateley. Conveyancing formalities meant that the Land Registry date was in August. I plan to dispose of the house. I do know about the CML six month 'rule', which means that my property ownership will be treated the same way as though I had purchased the property in August. Will no one buy the property for half a year?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. How sensible a view mortgage companies take of it, depend on the mortgage company as this provision chiefly exists to capture subsales or the wholesaling and assigning of properties.
I was told four weeks ago that my mortgage has been agreed to by Principality. Is it usual for Principality to only issue the offer once my solicitor in Yateley is approved on their conveyancing panel? Principality have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have finally had an offer on a flat in Yateley agreed to, but there is a chain. The vendors have offered on a flat, but it’s not been accepted yet, and have viewings of other properties in the pipeline. I have selected a high street conveyancing solicitor in Yateley. What do I do now? When should I get the mortgage application with Lloyds going?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of one thousand pounds, then survey, Yateley conveyancing search charges, etc). First, you should check that your conveyancer is on the Lloyds conveyancing panel. Regarding the next phase this very much dictated by the specifics of your transaction, motivation for this property and on the state of the market. In a buoyant market many buyers will apply for the mortgage with Lloyds and pay for the valuation and only if it comes back ok would they pay their property lawyer to move forward with searches.
Should our lawyer be asking questions concerning flooding as part of the conveyancing in Yateley.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Yateley. Plenty of people will acquire a house in Yateley, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a numerous searches that can be carried out by the buyer or by their lawyers which should give them a better understanding of the risks in Yateley. The standard completed inquiry forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the seller to find out whether the premises has historically flooded. In the event that flooding has previously occurred and is not revealed by the seller, then a purchaser may bring a compensation claim stemming from an misleading response. The purchaser’s lawyers will also order an environmental report. This should indicate whether there is any known flood risk. If so, additional investigations should be conducted.
Just had an offer accepted on a new build apartment in Yateley. 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 selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Yateley
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There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. 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.
Over the last few months I have been searching for a flat up to £245,000 and identified one round the corner in Yateley I like with amenity areas and transport links in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Yateley in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
In my capacity as executor for the will of my grandmother I am disposing of a property in Newport but reside in Yateley. My solicitor (approximately 250 kilometers from merequires that I sign a stat dec ahead of completion. Could you suggest a conveyancing lawyer in Yateley to witness this legal document for me?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are based in Yateley