Do lawyers request an advanced payment for conveyancing in Coningsby?
Where you are retaining lawyers for conveyancing in Coningsby your lawyer will request that you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is payable against the purchase price then this will be asked for immediately ahead of exchange of contracts. The closing balance that is due should be sent to your lawyer shortly before completion.
Do the Building Society Association intend to launch a search tool with a view to list solicitors on the Earl Shilton BS conveyancing panel for instance in Coningsby?
Lexsure has not been advised of any intention on the part of the BSA to promote such a tool.
I happen to be the sole beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Coningsby. Conveyancing formalities meant that the Land Registry date was in August. I want to move. I understand that there is a CML 6 month 'rule', which means that my property ownership will be regarded the same way as though I had purchased the property in August. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. Some lenders would take a practical view as this provision is principally there to capture the purchase and immediately sell or the wholesaling and assigning of properties.
It is not clear whether my bank requires a lease extension. I have called my Coningsby building society branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My Coningsby conveyancing solicitor - who is on the lender conveyancing panel- called to say that they would not lend in accordance with their specific requirements. I have no idea who is right.
Provided that the property lawyer is on the mortgage company panel, she or he must adhere to the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
At last I have had an offer on an apartment in Coningsby agreed to, but there is a chain. The sellers have offered on somewhere, however it’s not been accepted yet, and are looking at other properties booked. I have selected a bricks and mortar conveyancing solicitor in Coningsby. What do I do now? At what stage do I apply for the mortgage with UBS?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then valuation, Coningsby conveyancing search charges, etc). First, you should check that your solicitor is on the UBS approved list. As to the subsequent stages this very much depends on the circumstances of your transaction, desire for the property and on the state of the market. In a hot market some purchasers will apply for the mortgage with UBS and pay for the valuation and only if it comes back ok would they request their solicitor to move forward with the conveyancing in Coningsby.
I am buying a new build house in Coningsby benefiting from help to buy. The sellers would not reduce the price so I negotiated 6k of fixtures and fittings instead. The estate agent told me not reveal to my solicitor about the side-deal as it would put at risk my mortgage with the lender. Should I keep quiet?.
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.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Coningsby is where the house is located. Can you shed any light on this issue?
Flying freeholds in Coningsby are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Coningsby 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 Coningsby 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 premises.
Do online conveyancing organisations undertake everything a high street Coningsby solicitor does or do I still need to retain a solicitor for the final stages for my conveyancing in Coningsby?
Where you instruct an online conveyancer they will cover all the tasks your Coningsby solicitor will cover.