I have just started taking steps with the intention of swapping over from my existing standard mortgage to a BTL Aldermore mortgage. I have been informed by my broker that I require a conveyancer for this. I had a chat my previous Belper conveyancing solicitor who who completed the conveyancing when I previously purchased the house. The fee calculation supplied of £470 has shocked me as its a remortgage than a sale or purchase.
The charges appear a tad high. If you you were to look around you might get the conveyancing a bit cheaper by say £100 plus VAT. That being said, if you were happy with the legal work the firm gave you mightcome to regret choosing an a cheaper solicitor. If is important to be sure that the firm can represent Aldermore. You can make use of our search tool to get a quote a Belper conveyancing firm on the Aldermore conveyancing panel, which can often include conveyancing solicitors in Belper.
My husband and I are only a couple days away from an exchange on a flat in Belper and my parents have transferred the exchange deposit to my conveyancer. I am now informed that as the deposit has not come from me my conveyancer needs to disclose this to my bank. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I disclosed to the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The property lawyer is obliged to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
I am purchasing a new build house in Belper with the aid of help to buy. The developers refused to reduce the amount so I negotiated £7000 of extras instead. The property agent suggested that I not inform my lawyer about the side-deal as it will put at risk my mortgage with Clydesdale. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a ground for flat up to £305k and found one close by in Belper I like with a park and railway links nearby, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Belper for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan that many years will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I have been pointed in your direction by numerous property agents in Belper to choose a solicitor using your seach tool. What’s the financial upside for Estate Agents to market your lawyers over and above a competitor’s?
We don’t offer any referral fee for pointing buyers and sellers our way. We found it would be just too difficult a fee as members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
A licensed conveyancer handled my conveyancing in Belper 5 years ago having stored my title documents but has now closed – how do I get hold of them?
Deeds, as such, no longer exist as the majority of homes in Belper are recorded electronically at Land Registry. Where you need to establish ownership or are disposing of or refinancing your lawyer can obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned with reasonable haste.