My husband and I wish to acquire a purpose built apartment in Eastbourne with a loan from Bank of Scotland.We have a Eastbourne conveyancing practitioner but Bank of Scotland says he's not listed on their approved list of firms. We have to appoint a Bank of Scotland panel firm or keep our preferred solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan offered to you contains various provisions, a common one being that lawyers will be on the Bank of Scotland approved list. in the past, most lenders had large numbers of solicitors on their panels: a borrower could choose 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 lawyer to apply to be on the conveyancing panel for Bank of Scotland
If you had a top tip for choosing a conveyancing solicitor in Eastbourne what would it be?
We would encourage you not to go for the cheapest Eastbourne conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
I happen to be the sole recipient of my late mum's will and I have everything in my name now, including the house in Eastbourne. Conveyancing formalities meant that the Land Registry date was in June. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership will be treated the same way as if I'd bought the house in June. Is the property unsalable for six months?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Most lenders would take a pragmatic view as this obligation is chiefly there to capture subsales or the quick reselling of properties.
The mortgage over my property is with Aldermore for my property in Eastbourne. Conveyancing was finalised 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aldermore?
Your original mortgage agreement with Aldermore will provide that you need their approval prior to letting out your property as this is likely to be a breach of Aldermore’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 Aldermore directly. You need not do this via a Aldermore conveyancing panel solicitor.
Are there restrictive covenants that are commonly picked up during conveyancing in Eastbourne?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Eastbourne. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am using a search engine for the term conveyancing in Eastbourne it reveals numerous conveyancerslocally. How do I determine which is the right property lawyer for my move?
The ideal way of finding the right conveyancer is via personal referral, so ask colleagues and family who have bought a property in Eastbourne or the respected estate agent or financial adviser. Charges for conveyancing in Eastbourne vary, so it's advisable to request at least three estimates from different companies. Make sure that you clarify what costs in the quote includes.
Looking forward to sign contracts shortly on a garden flat in Eastbourne. Conveyancing solicitors assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Eastbourne should include some of the following:
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Rent payments - how much and when is collected, and also know whether this will change in the future Are you allowed to have a pet in the flat? Where does the liability rest for maintaining the window frames if lease has a provision for a sinking fund?
Eastbourne Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying
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How many years are left on the lease? It is important to be aware whether a new roof is being installed or some other major work is anticipated that will be shared amongst the leaseholders and will dramatically increase the the maintenance fees or result in a specific payment. The best form of lease arrangement is where the freehold title is owned by the leaseholders. In this scenario the lessees benefit from being in charge if their destiny and even though a managing agent is usually employed if the building is larger than a house conversion, the managing agent retained by the leaseholders.
How up-to-date is your database of lawyers on the lender conveyancing panel in Eastbourne? Do the mortgage companies send you an updated list?
Eastbourne firms and firms conducting conveyancing in Eastbourne themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the lender directly.