We are approaching an exchange on a house in Bletchley and my parents have sent the ten percent deposit to my lawyer. I am now advised that as the deposit has not arrived from me my property lawyer needs to disclose this to my bank. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancer is obliged to clarify with the bank to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Is there a reason why leasehold purchase conveyancing in Bletchley is more expensive?
Bletchley leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Bletchley conveyancer on the Yorkshire BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
Intending to buy a house in Bletchley. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bletchley property lawyer is on the Leeds Building Society conveyancing panel.
I have finally had an offer on a maisonette in Bletchley agreed to, but there is a chain. The sellers have put an offer on on an apartment, but it’s not yet tied up, and are looking at other apartments in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Bletchley. What do I do now? When should I get the mortgage application with Clydesdale started?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is approx £1k, then valuation, Bletchley conveyancing search fees, etc). The first thing to do is ensure that your conveyancing practitioner is on the Clydesdale conveyancing panel. As to the next steps this very much dictated by the uniqueness of your case, desire for this property and on the state of the market. During a hot market many purchasers will apply for the mortgage with Clydesdale and pay for the valuation and only if it comes back ok would they ask their solicitor to press on with searches.
I'm purchasing my first flat in Bletchley with the aid of help to buy. The builders refused to budge the price so I negotiated 6k of additionals instead. The estate agent advised me not disclose to my lawyer about the side-deal as it would impact my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I am looking for a ground for flat up to £305k and found one close by in Bletchley I like with open areas and railway links nearby, however it's only got 51 years on the lease. There is not much else in Bletchley suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan that many years will likely be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
My husband and I are new to the buying process - had an offer accepted, but the property agent informed us that the vendor will only move forward if we instruct their chosen conveyancers as they want an ‘expedited deal’. We would rather use a family conveyancer with experience of conveyancing in Bletchley
It is highly unlikely the owners are driving this. Should the owner want ‘a quick sale', alienating a motivated purchaser is not the way to achieve this. Bypass the agents and go straight to the sellers and make sure they comprehend that (a)you are keen to buy (b)you are ready to progress, with finances arranged © you do not need to sell (d) you wish to move quickly (e)however you will continue to instruct your own,trusted Bletchley conveyancing solicitors - not the ones that will give their estate agent a referral fee or hit his conveyancing targets demanded by HQ.