My fiance and I are purchasing a newbuild flat in Holsworthy with a mortgage from Virgin Money.We like our Holsworthy conveyancing solicitor but Virgin Money informed us he's not listed on their approved list of firms. We have to appoint a Virgin Money panel lawyer or keep our high street solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Virgin Money use our lawyer?
Unfortunately,no. The home loan issued to you is subject to its various provisions, one of which will be that lawyers needs to be on the Virgin Money approved list. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could find 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for Virgin Money
I am assisting my mother sell her flat in Holsworthy. Will the solicitor order an EPC or should I organise this?
After the abolition of HIPs, energy assessments was kept a compulsory component of moving house. An energy assessment must be commissioned prior to the property being advertised. It is not a task that law firms ordinarily organise. Where you are instructing a Holsworthy conveyancing solicitor they may help arrange energy assessments given their relationships with long established local energy assessors
I'm at the point of looking at houses in Holsworthy and I am now considering a potential offer. Is it sensible to have my property lawyer on ‘stand by’? I intend to finance via a home loan with Clydesdale.
You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are getting a mortgage with Clydesdale, ask your prospective lawyers if they are on the Clydesdale conveyancing panel otherwise they can't do the mortgage legal work.
I have today made my last payment due on my mortgage with Coventry BS. I assume I don't need a Holsworthy solicitor on the Coventry BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
We are selling our house in Holsworthy and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A high street Holsworthy conveyancer would know this is not the case. For the life of me I don't know why the purchasers are using a nationwide conveyancing practice as opposed to a conveyancing solicitor in Holsworthy. We have lived in Holsworthy for many years we know of no issue. Should we get in touch with our local Authority to get confirmation need.
It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Holsworthy is where the house is located. What do you suggest?
Flying freeholds in Holsworthy are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Holsworthy you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Holsworthy may ascertain 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 residence.
I'm remortgaging my primary property to a BTL loan with Yorkshire Building Society and I will use the rest of the raised equity as a down payment on a second property. The area we are interested in is Holsworthy. Will your conveyancers be able to act for the two mortgage companies and tie in the transactions?
Do use our comparison tool on this page to be sure that the conveyancers are approved by both banks. Assuming that they are your lawyer will be able to connect the two transactions but you should talk with you lawyer and make apparent your desired outcome and requirements.
I am attracted to a two apartments in Holsworthy both have about forty five years left on the leases. Will this present a problem?
There are plenty of short leases in Holsworthy. The lease is a right to use the property for a period of time. As a lease gets shorter the marketability of the lease deteriorates and it becomes more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field.
Leasehold Conveyancing in Holsworthy - Sample of Questions you should ask before Purchasing
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Make sure you find out if there is anything that is prohibited in the lease. For instance plenty of leases prohibit pets being allowed in certain buildings in Holsworthy. If you like the apartmentin Holsworthy but your cat can’t make the move with you then you will be faced hard determination. You should be aware that where the lease has no more than 80 years it will affect the salability of the property. It is worth checking with your lender that they are content with the length of the lease. A short lease means that you will probably require a lease extension at some point and you need to have some idea of what this would cost. Remember, in most cases you will be required to have owned the residence for two years in order to be entitled to carry out a lease extension. What prohibitions are contained in the Holsworthy Lease?