We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Does this mean I have to use their panel conveyancer as I would much rather appoint a specialised conveyancing solicitor in Kempshott?
You should check but the chances are that allocate you one of their panel solicitors should you accept the "fee-free" offer. Call the bank and explore if they allow a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Kempshott.
How can we know in advance if a Kempshott conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Kempshott obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer handling your transaction.
I have a mortgage with Nottingham for my property in Kempshott. Conveyancing has been completed 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nottingham?
You must advise Nottingham prior to letting out your property as this is likely to be a breach of Nottingham’s mortgage conditions. It may be that Nottingham 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 Nottingham directly. It should not be necessary to do this via a Nottingham conveyancing panel firm.
It is unclear whether my mortgage offer requires a lease extension. I have called my Kempshott building society branch on various occasions and was told it does not impact the mortgage offer and they would lend. My Kempshott conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend in accordance with their published requirements. I have no idea who is right.
The solicitor has to follow the Council of Mortgage Lenders’ Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Will our solicitor be asking questions about flooding as part of the conveyancing in Kempshott.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Kempshott. Plenty of people will acquire a property in Kempshott, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, however there are a number of checks that can be carried out by the buyer or by their conveyancers which should figure out the risks in Kempshott. The conventional set of completed inquiry forms supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the seller to discover whether the premises has historically flooded. If the premises has been flooded in past which is not notified by the seller, then a purchaser may commence a legal claim for losses stemming from an misleading answer. A purchaser’s solicitors will also conduct an environmental report. This should reveal whether there is a recorded flood risk. If so, more detailed investigations will need to be made.
My wife and I own a semi-detached Victorian property in Kempshott. Conveyancing solicitor acted for me and Accord Mortgages Ltd. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Kempshott and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing lawyer who completed the work.
Am I better off to go with a Kempshott conveyancing practitioner based in the vicinity that I am purchasing? I have an old university friend who can carry out the conveyancing but his firm is located 200miles away.
The benefit of a high street Kempshott conveyancing practice is that you can pop in to sign documents, deliver your identification documents and pester them if necessary. Having local Kempshott know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and on the whole were content that should surpass using an unknown Kempshott conveyancing solicitor solely due to them being local.
Are there any apps to help search for a Kempshott conveyancing solicitor on the mortgage company conveyancing panel? I have a car and am prepared to travel up to 25miles to attend the lawyer.
You can use the find a conveyancing panel tool on this website. Please choose the lender and your location, in this case Kempshott and you will see a number of lawyer located nearest Kempshott. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.