It is a dozen years since I bought my home in Bilston. Conveyancing solicitors have just been appointed on the sale but I am unable to locate my title documents. Is this a problem?
You need not be too concerned. Firstly the deeds may be with the lender or they could be archived with the lawyers who acted in the purchase. Secondly in all probability the title will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. The vast majority of conveyancing in Bilston relates to registered property but in the unlikely event that your property is unregistered it is more of a problem but is resolvable.
we are a couple who wish to acquire a purpose built apartment in Bilston with a loan from The Mortgage Works.We like our Bilston conveyancing practitioner but The Mortgage Works informed us his firm is not on their "panel". we are left little option but to use a The Mortgage Works panel solicitor or keep our high street solicitor and pay for a The Mortgage Works panel lawyer to act for them. This seems very unfair; Can we not simply insist that The Mortgage Works use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that conveyancers must be on the The Mortgage Works approved list. Until recently, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for The Mortgage Works
What can a local search reveal concerning the house I am purchasing in Bilston?
Bilston conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search company for instance PSG The local search is essential in every Bilston conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your property. The search will reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
I'm buying a new build house in Bilston with a loan from Nationwide Building Society. The builders refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not inform my solicitor about the side-deal as it may affect my mortgage with the bank. 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Bilston is the location of the property. Can you offer any guidance?
Flying freeholds in Bilston are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bilston you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bilston may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
What does commercial conveyancing in Bilston cover?
Bilston conveyancing for business premises covers a broad array of advice, offered by regulated solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.