My wife and I are about to complete on the purchase of a house in Bartley Green but as a result of wreckage from some water damage at the property I have managed to agree reparation from the vendor of three thousand pounds by way of a adjustment in the price. This was going to be dealt with as part of a side agreement yet Virgin Money will not permit this. Should they have been informed?
Any conveyancer that is on the Virgin Money approved list is required to inform Virgin Money of any amendments to the sale price. If you prohibit your conveyancing practitioner to notify the reduction to Virgin Money then they would have to discontinue acting for you. In addition, Virgin Money and you would have to appoint a new conveyancing practitioner for your conveyancing in Bartley Green.
A colleague advised me that in buying a property in Bartley Green there may be a number of restrictions as to what one can do in terms of external changes to a property. Is this right?
We are aware of anumerous of properties in Bartley Green which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Bartley Green should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
The mortgage over my property is with HSBC for my property in Bartley Green. Conveyancing was finalised 12 months ago. If I am intending 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 before letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC 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 firm.
After shopping around on the internet I have found a Bartley Green conveyancer having checked that they are on the Principality conveyancing panel. Does my lawyer arrange the survey of the property?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality 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 conveyancer 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 Bartley Green postcode. As you are getting a mortgage with Principality, you could contact them to see if they have a list of approved surveyors in Bartley Green.
Various internet forums that I have visited warn that are a common cause of delay in Bartley Green house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Searches are unlikely to feature in any slowing down conveyancing in Bartley Green.
I have recentlydiscovered that Stirling Law have closed. They carried out my conveyancing in Bartley Green for a purchase of a freehold house 18 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The easiest method to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bartley Green conveyancing specialists.
I have been on the look out for a leasehold apartment up to £305k and found one round the corner in Bartley Green I like with open areas and railway links nearby, however it only has 52 remaining years left on the lease. There is not much else in Bartley Green in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan the shortness of the lease will be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
Do I need to be wary about brokers that I am dealing with are suggesting a nationwide conveyancing firm rather than a local Bartley Green conveyancing firm?
As is the case with many service providers, often referrals from connections can be extremely useful or valuable. Yet there are lots of parties with a vested interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all suggest lawyers to select. On occasion these conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there might be a commercial relationship behind the recommendation. You have the discretion to select your preferred lawyer. Don't forget that many lenders specify a panel list of law firms you must use for the lender aspect of your transaction.