Why do I have to pay up front for my conveyancing in Aspley Guise?
Where you are retaining lawyers for conveyancing in Aspley Guise your lawyer will request that you put them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the sale price then this will be needed immediately ahead of contracts are exchanged. The closing balance that is due should be transferred a few days prior to the day of completion.
I am considering applying for a Clydesdale mortgage for purchase of a new build (under development) in Aspley Guise with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Clydesdale ?
There is nothing to stop you using your solicitor, but Clydesdale will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
We had appointed conveyancers located in Aspley Guise on the Skipton solicitor approved list. They have just invoiced me a further fee for dealing with the Skipton mortgage. Is this a supplemental conveyancing fee specified by Skipton?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your lawyer is entitled to levy a fee for this. This charge is not set by Skipton but by your Aspley Guise conveyancing practitioner. Some firms on the Skipton panel will charge an ‘acting for lender’ fee but some firms incorporate it on their overall fee.
I have a mortgage with Barclays for my property in Aspley Guise. Conveyancing has been completed 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Barclays?
You must advise Barclays in advance of renting your property as this is likely to be a breach of Barclays’s mortgage conditions. It may be that Barclays 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 Barclays directly. You need not do this via a Barclays conveyancing panel lawyer.
Having digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Aspley Guise solicitor - who is on the Virgin Money conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Aspley Guise postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Aspley Guise.
My wife and I have a 4 bedroom Georgian house in Aspley Guise. Conveyancing lawyer acted for me and Lloyds TSB Bank. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Aspley Guise and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with the conveyancing solicitor who carried out the work.
Due to the input of my in-laws I had a survey completed on a house in Aspley Guise prior to instructing solicitors. I have been informed that there is a flying freehold element to the house. The surveyor advised that some banks tend refuse to give a mortgage on such a premises.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. Should you wish to call us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Aspley Guise. Conveyancing will be smoother if you use a solicitor in Aspley Guise especially if they are accustomed to such properties in Aspley Guise.
Why can't I complete my conveyancing in Aspley Guise on a bank holiday?
Because on completion the money needs to pass between the banks of the buyer and seller's lawyer and at present this can only happen on a business day. So you can't complete on a weekend either.