Why do I have to pay up front when it comes to conveyancing in Yatton?
If you are buying a property in Yatton your lawyer will request that you put them with funds to cover the search fees. Normally this is needed to cover the fees of the Local Authority Search. If any deposit is payable against the purchase price then this should be required immediately in advance of exchange of contracts. The final balance that is needed should be transferred a couple of days prior to the day of completion.
I am refinancing my property in Yatton, does my lawyer have to be on the Lloyds Solicitor panel?
There is nothing to stop you using your solicitor, but Lloyds 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.
I'm buying a new build house in Yatton with a loan from The Mortgage Works. The sellers would not budge the amount so I negotiated 6k of fixtures and fittings instead. The estate agent told me not disclose to my conveyancer about this extras as it would impact my mortgage with The Mortgage Works. 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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Yatton is the location of the property. Is there any advice you can impart?
Flying freeholds in Yatton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Yatton you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Yatton may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My father has recommend that I instruct his lawyers for conveyancing in Yatton. Should I use them?
No doubt the ideal way to choose a conveyancing practitioner is to get feedback from friends or relatives who have previously instructed the solicitor that you are are thinking of instructing.
We are midway through buying a house in Yatton. Conveyancing lawyer has told us the title is "Leasehold". Should this adversely affect the marketability of the property?
Yatton conveyancing does not in most situations involve leasehold houses. The key factor here is the remaining lease term and the ground rent. If it's 999 years with a peppercorn rent, it's virtually freehold, so it shouldn't impact the saleability too much.
On the flip side, if it's, say, 50 years it is bound to have a material impact on the value, and most likely wouldn't be acceptable to the bank. The length of lease and ground rent will be set out in the lease to be supplied to your conveyancer.