We are purchasing a flat in Crabtree. I might seem paranoid but how we can trust a conveyancer? At some point we will need to send our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have been told by my conveyancer that restrictive coveneant insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Crabtree?
The right level of restrictive coveneant indemnity insurance should be dictated by who your lender. It would differ for example between Accord Mortgages Ltd and Chelsea Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
I have a mortgage with Coventry BS for my property in Crabtree. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Coventry BS?
Coventry BS must be informed of your intention before renting your property as this is likely to be a breach of Coventry BS’s mortgage conditions. It may be that Coventry BS will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. It should not be necessary to do this via a Coventry BS conveyancing panel solicitor.
My colleague advised me that where I am purchasing in Crabtree I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your Crabtree conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Crabtree around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Crabtree Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Crabtree Education with plans and statistics, Local Amenities and other useful data concerning Crabtree.
I am buying my first flat in Crabtree with a mortgage from Lloyds TSB Bank. The builders refused to move on the price so I negotiated £7000 of additionals instead. The property agent suggested that I not disclose to my solicitor about this side-deal as it could put at risk my loan with the bank. 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 need to appoint a conveyancing solicitor for some conveyancing in Crabtree. I have land on a web site which seems to have the ideal answer If it is possible to get all formalities completed via email that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having had my offer accepted I require leasehold conveyancing in Crabtree. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Crabtree - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Crabtree Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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Does this lease have more than 85 years unexpired? How many of the leaseholders are in arrears for their service charge payments? Are there any major works on the horizon that will likely increase the maintenance costs?
Is planning permission needed to change a house into a couple of appartments in Crabtree? This has taken place to a house next door to a friend in Crabtree and was ignorant of the conversion until it was finished.
Planning permission is required for splitting a single house in Crabtree into apartments but probably not for converting once again to single dwelling-house so, in answer to your question, yes.