I am purchasing a leasehold flat in Finedon. My Conveyancer is not on the mortgage company approved list. Can I still use my Finedon conveyancing solicitor even though they are excluded from the mortgage company approved list?
You will need to appoint a solicitor to complete the legal work required when you require a loan to purchase your property. The lawyer will carry out all the essential legal checks on the property, ensuring that you’re registered as proprietor and ensure that all the required mortgage documentation is dealt with. One may appoint a Finedon conveyancing practitioner of your choosing. Nevertheless, if the lawyer appointed is not on the bank solicitor panel supplemental costs will be incurred as separate legal representation will be required by them. Bank panel applications can be submitted, so if your lawyer has not previously sought membership they should take the opportunity to apply.
It has been four months following my purchase conveyancing in Finedon concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing my first flat in Finedon with the aid of help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not disclose to my conveyancer about this deal as it may put at risk my mortgage 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've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Finedon is the location of the property. Can you offer any guidance?
Flying freeholds in Finedon are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Finedon you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Finedon may decide 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 property.
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At this site get a conveyancing quote via a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Finedon. Unlike many estate agents and many comparison sites we do not have commission deals with solicitors. Many agents and online brokers 'recommend' the firm who pay the most commission, rather than the best value conveyancing in Finedon
Should I stop the direct debit for my mortgage with Skipton as soon as a completion date for my home sale in Finedon has been agreed?
No, you should continue meeting any mortgage sums to Skipton pending the mortgage being repaid on completion as part of your Finedon conveyancing.