My partner’s dad is a conveyancer. I am hopeful that I'll be able to get friends and family pricing for conveyancing, However if that does not come through, what level of fees should I be expecting for conveyancing in Lunt?
It’s prudent to obtain two or three conveyancing estimates. Do use our search tool on this page. The quotes seem to be different but service levels do are distinct between solicitors as is true with the vast majority of professional services.
My god-son is purchasing a newly built flat in Lunt with a mortgage from Clydesdale. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Clydesdale conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Clydesdale conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I currently have a mortgage with Kent Reliance for my property in Lunt. Conveyancing has been completed a year ago. Should I wish 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 Kent Reliance?
Kent Reliance must be informed of your intention in advance of letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies 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 Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel solicitor.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Lunt building society branch on a couple of occasions and was told they are content with the situation and they would lend. My Lunt conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend based on their published requirements. Who do I believe?
Your lawyer must comply with the Council of Mortgage Lenders’ Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I was told two weeks ago that my mortgage has been agreed to by Skipton. Is it usual for Skipton to only issue the offer once my solicitor in Lunt is approved on their conveyancing panel? Skipton have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
Over the last few months I have been searching for a flat up to £245,000 and found one close by in Lunt I like with open areas and railway links nearby, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Lunt suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage that many years may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I was recommended by a number of property agents in Lunt to get a quote from a solicitor using your seach tool. What’s the financial incentive for Estate Agents to promote your site ahead of another?
We don’t offer any referral fee for sending work to this site. We found it would be just too difficult a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Why can I not complete my conveyancing in Lunt on May bank holiday?
This is due to the fact that on completion the purchase price will be transferred electronically between the banks of the purchaser and owner’s conveyancer and currently this can only take place on a business day. So you can't complete on a saturday or sunday either.