How up to date is your search tool for Cornwall conveyancing solicitors on the Lloyds conveyancing panel? Do Lloyds send you an updated list?
Cornwall conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
I happen to be the sole recipient of my late mum's estate with all property in now in my sole name, including the house in Cornwall. The Cornwall property was put into my name in September. I want to move. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership will be regarded the same way as if I'd bought the property in September. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How sensible a view lenders take of it, depend on the bank as this clause primarily exists to identify subsales or the flipping of properties.
Is it the case that all Cornwall CQS (Conveyancing Quality Scheme) solicitors are on the Aldermore conveyancing panel?
Some major banks and building societies now use the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
My offer on a detached house in Cornwall has been accepted, the vendors do however have a connected purchase. The owners have offered on a property, however it’s not been accepted yet, and have viewings of other properties in the pipeline. I have chosen a nearby conveyancing solicitor in Cornwall. What do I do now? When do I get the mortgage application with Santander going?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is in the region of one thousand pounds, then survey, Cornwall conveyancing search charges, etc). First, you should ensure that your lawyer is on the Santander conveyancing panel. As to the next stages this very much depends on the circumstances of your transaction, desire for this property and on the state of the market. During a hot market the majority of purchasers will apply for the mortgage with Santander and pay for the valuation and only if it comes back ok would they ask their solicitor to move forward with searches.
I'm purchasing my first flat in Cornwall with a loan from Alliance & Leicester . The sellers would not move on the amount so I negotiated £7000 of extras instead. The property agent advised me not reveal to my solicitor about this extras as it would jeopardize my loan with Alliance & Leicester . Do I keep my lawyer in the dark?.
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.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one round the corner in Cornwall I like with open areas and transport links in the vicinity, however it's only got 49 years on the lease. There is not much else in Cornwall for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months 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 term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
Should I be wary that brokers that I am dealing with are encouraging me to use a nationwide conveyancing firm rather than a High Street Cornwall conveyancing company?
As is the case with lots of service providers, often referrals from connections can be very helpful. Nevertheless there are many people with a keen interest in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may recommend lawyers to use. On occasion the solicitors might be known to one of the organisations as experts in their field, but sometimes there might be a commercial relationship behind the endorsement. You have the discretion to select your preferred conveyancer. Don't forget that the majority of mortgage providers have an approved list of lawyers you have to use for the mortgage aspect of your conveyancing.
We are first time buyers just having agreed a price on a property in Cornwall, and are about to get solicitors appointed. I have used the numerous comparison tools and the results are from all over the country. Is it critical to have a Cornwall property lawyer local to the potential house? We are willing to do everything electronically, but I assume at some point we will be required to attend the solicitor's office to sign contracts?
The conveyancer does not have to be in Cornwall, but choosing local means that you can visit their offices if needed, by way of example, if a signature is immediately necessary. Furthermore, a Cornwall solicitor is likely to be familiar with local agents and (if the vendor has chosen a local lawyer) with them, which should help keep things moving faster.