We are getting a further advance on our mortgage from Principality as we want to conduct alterations to our house in Workington. Are we obliged to appoint a nearby Workington solicitor on the Principality conveyancing panel to deal with the legals?
Principality don't usually instruct firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality list.
I currently have a mortgage with HSBC for my property in Workington. Conveyancing was finalised 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?
You must advise HSBC in advance of letting out your property as this is likely to be a breach of HSBC’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 HSBC directly. You need not do this via a HSBC conveyancing panel solicitor.
It is unclear whether my lender requires a lease extension. I have called into my local Workington bank branch on numerous occasions and was told it wasn't an issue and they would lend. My Workington conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your property lawyer has to comply with the CML Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Should my conveyancer be making enquiries about flooding during the conveyancing in Workington.
Flooding is a growing risk for lawyers conducting conveyancing in Workington. There are those who buy a property in Workington, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a various searches that may be carried out by the buyer or by their lawyers which can figure out the risks in Workington. The conventional set of information supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a usual question of the seller to determine if the property has ever been flooded. In the event that the residence has been flooded in past which is not revealed by the owner, then a buyer may issue a compensation claim as a result of such an incorrect response. The buyer’s lawyers will also order an enviro search. This should reveal if there is a recorded flood risk. If so, additional investigations will need to be initiated.
five months have gone by following my purchase conveyancing in Workington took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I opted to have a survey carried out on a house in Workington prior to retaining lawyers. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some banks will not grant a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Workington. Conveyancing may be slightly more expensive based on your lender's requirements.
I am selling my home. My previous conveyancers have shut. It would be helpful to have a recommendation of a conveyancing firm. Im based in Workington if that affects matters.
Please use our search tool to help you find a solicitor for your conveyancing in Workington. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
Me and my partner have recently had an offer agreed on a apartment and had an appointment on Friday with the Post Office for the mortgage. They have informed me that when it comes to selecting a solicitor that if they are not on their approved list of lawyers then we will have to pay out an extra charge of £200. This is because they would then have to select a solicitor to act on their behalf in addition to the one we select on our behalf and we assume responsibility for their invoice. I have asked the Post Office to send me with a list so I can obtain estimates only from their approved conveyancers but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?
You can enquire of the Post Office what their panel criteria is for a conveyancer.Then ask the solicitor of your choice whether they meet the criteria and have they acted on mortgages for the Post Office previously. Where the answer to those is yes, then just double check with the Post Office. Alternatively please utilise our search tool and we should be able to find you a solicitor in Workington on the panel for the Post Office.