We are acquiring our first home. Our property lawyer has messagedto enquire if we wish to take out supplemental conveyancing searches. Unfortunately we have no idea as to what's recommended for conveyancing in Mancot
The scope of Mancot conveyancing searches should be triggered based primarily on the property, the location, the likelihood of any of these risks, your knowledge of the locality and risks, your overall appetite to risk. What is important is that you adequately appreciate what information each search could supply. You may then decide if you consider that you need that search. Should you be in doubt, ask your conveyancing practitioner to guide you.
My father informed me that in purchasing a property in Mancot there may be various restrictions as to what one can do in terms of external changes to a property. Is this right?
There are anumerous of properties in Mancot which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Mancot should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Can you help - my lawyer says that restrictive coveneant insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Mancot?
The right level of restrictive coveneant indemnity insurance should be dictated by who your lender. It would differ for example between Yorkshire Building Society and Skipton Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
I have paid off my mortgage with Santander. I assume I don't need a Mancot conveyancing practitioner on the Santander panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Santander mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Santander mortgage from the register. Santander, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
Are there restrictive covenants that are commonly picked up during conveyancing in Mancot?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Mancot. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the encouragement of my in-laws I had a survey completed on a house in Mancot in advance of instructing lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some banks tend refuse to issue a loan on such a property.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. If you contact us we can investigate further via 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 Mancot. Conveyancing will be smoother if you use a solicitor in Mancot especially if they are accustomed to such properties in Mancot.
My husband and I are FTB’s - agreed a price, yet the selling agent told us that the seller will only proceed if we use the agent's chosen lawyers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a high street conveyancer with experience of conveyancing in Mancot
It is improbable the owners are driving this. Should the vendor desire ‘a quick sale', taking such a hostile approach to a serious purchaser is not the way to achieve this. Speak to the vendors direct and explain that (a)you are genuine buyers (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)however you intend to use your own,trusted Mancot conveyancing lawyers - rather thanthe ones that will give the negotiator at the agency a kickback or hit his conveyancing targets pre-set by senior management.
I have miscalculated my finances and am a few thousand pounds short a 10% deposit on my flat purchase in Mancot , but I am anxious proceed. Do I have options?
One option is to try and agree a lesser deposit. Many sellers will accept a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment