I have just started taking steps with the intention of porting my current homeowner home loan to a Buy to Let Bank of Scotland mortgage. I have been informed by my broker that I require a conveyancer as part of the process. I got in contact with my former Leyland conveyancing practitioner who dealt with the legals when I first purchased the property. The fee estimate e-mailed to me of £450 plus VAT has taken me by surprise as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The estimate does seem a tad steep. If you are willing to spend time scrutinising costs you could get the conveyancing a bit cheaper by as much as £100 plus VAT. On the other hand, providing that you were happy with the legal work the firm provided you mightlive to regret opting for an an unknown conveyancer. Remember to be sure the conveyancer can act for Bank of Scotland. Do employ our search tool to find a Leyland conveyancing firm on the Bank of Scotland approved list of lawyers, which can often include conveyancing solicitors in Leyland.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Leyland. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this allowed?
If you intend to refinance then Aldermore will require that you use 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 am the single beneficiary of my late mum's will with all property in now in my sole name, including the house in Leyland. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership could be regarded the same way as if I'd bought the house in March. 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." By the strict wording you could be affected by that. many banks would take a practical view as this provision chiefly exists to pick up on the purchase and immediately sell or the wholesaling and assigning of properties.
Can I be sure that the Leyland conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Leyland seeking recommendations is a good 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 which is cheap as chips. We would always advocate that you speak with the lawyer conducting your transaction.
I had a mortgage agreed in principle with Aldermore. Leyland conveyancing practitioners are instructed. What is the average time that one could expect to receive a mortgage offer from Aldermore?
There is no definitive answer here. Have Aldermore completed the survey? Have you informed Aldermore as to your lawyers' details and checked that your lawyers are on the Aldermore conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
My relative advised me that if I am purchasing in Leyland I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Leyland conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Leyland around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Leyland Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Leyland.
I am purchasing my first flat in Leyland benefiting from help to buy. The sellers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The property agent told me not reveal to my lawyer about the deal as it could adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
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 encouragement of my in-laws I had a survey completed on a property in Leyland prior to instructing conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies will refuse to grant a mortgage on this type of home.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. Should you wish to call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Leyland. Conveyancing will be smoother if you use a solicitor in Leyland especially if they are familiar with such properties in Leyland.