I am acquiring residence in Hatton. My Solicitor is not on the mortgage company approved list. Can I still appoint my Hatton conveyancing solicitor even though they are not on the lender panel of approved conveyancing solicitors?
Various options include
- Proceed with your chosen Hatton property lawyer but your mortgage company will need to instruct a lawyer from their conveyancing panel. This will result in additional fees together with probable frustration.
- Get a new lawyer to conduct the conveyancing, obviously checking they are on the bank conveyancing panel.
- Convince your property lawyer to pull out all the stops to get listed on the bank’s conveyancing panel
We are a couple about to sign contracts for a freehold house in Hatton. We encountered a stumbling block. The mortgage offer with TSB expires on 25/11/2020 but the owners are putting forward a completion date of 27/11/2020. Can one prolong the loan expiry date?
The person best placed to deal with your issue is your conveyancer who should assess whether they should be discussing with the mortgage company, owner’s lawyers, property agents or indeed all parties based on the circumstances your conveyancing as of today.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Hatton. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this allowed?
If you plan to refinance then Aldermore will insist on your using a conveyancer on the Aldermore conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore mortgage is registered as a charge at the Land Registry.
I'm purchasing a new build house in Hatton with the aid of help to buy. The developers would not reduce the price so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not disclose to my solicitor about this deal as it may adversely affect my mortgage with the bank. Should I keep quiet?.
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.
Due to the advice of my in-laws I had a survey completed on a house in Hatton prior to appointing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some lenders tend not give a loan on this type of home.
It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hatton. Conveyancing will be smoother if you use a solicitor in Hatton especially if they are acquainted with such properties in Hatton.
I work for a busy estate agent office in Hatton where we see a few flat sales jeopardised due to short leases. I have received inconsistent advice from local Hatton conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
My wife and I have hit a brick wall in trying to purchase the freehold in Hatton. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Hatton conveyancing firm who can help.
An example of a Lease Extension case for a Hatton flat is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case related to 1 flat. The unexpired term was 82.93 years.