My partner and I are purchasing our first property. Our solicitor has contact usto see if we wish to order extra conveyancing searches. Frankly we are clueless as to what's relevant for conveyancing in Lydiate
The number and type of Lydiate conveyancing searches should be triggered based primarily on the property, the location, the possibility of any of these risks, your knowledge of the locality and risks, your overall appetite to risk. What matters is that you properly appreciate what information the searches could supply. Then you can decide if you consider that you need that information. Should you be in doubt, ask the conveyancing practitioner to guide you.
I am buying a property in Lydiate. A rare aspect is that the roof has a solar panel. Aldermore have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Aldermore your lawyer must comply with the conveyancing requirements outlined in Part two of UK Finance Lenders’ Handbook for Aldermore. The CML Handbook sets out minimum conditions for solar panel roof-space leases, and solicitors are required to report to Aldermore where a lease does not satisfy these provisions. The conditions relate to the installation of panels on properties in England and Wales and is not restricted to Lydiate.
The mortgage over my property is with RBS for my property in Lydiate. Conveyancing has been completed 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform RBS?
Your original mortgage agreement with RBS will provide that you need their approval before renting your property as this is likely to be a breach of RBS’s mortgage conditions. It may be that RBS will allow you to rent 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 RBS directly. It should not be necessary to do this via a RBS conveyancing panel solicitor.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Lydiate bank branch on a couple of occasions and was told it does not impact the mortgage offer and they will lend. My Lydiate conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The conveyancer has to follow the CML Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 left on the lease.
I'm purchasing my first flat in Lydiate benefiting from help to buy. The sellers would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not reveal to my lawyer about the deal as it will jeopardize my loan with Barclays . 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 guidance of my in-laws I had a survey completed on a house in Lydiate in advance of retaining lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some banks may not issue a loan on a flying freehold property.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Lydiate. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lydiate to see if the conveyancing costs will increase in light of this.
I'm remortgaging my primary property to a buy to let mortgage with Coventry Building Society and intend to use the remaining equity as a down payment on further house. The area we are interested in is Lydiate. Will your solicitors be able to act for the two lenders and link together the transactions?
Do use our comparison tool on this site to be sure that the solicitors are on the appropriate lender panels. On the basis that they are your solicitor should be able to connect the two deals but you should have a chat with you solicitor and communicate your desired outcome and requirements.
I need to instruct a conveyancing practitioner in Lydiate for my purchase. Can I check a solicitor's complaints history with the legal regulator?
Anyone can see documented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Go to Check a solicitor's record. For details Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The regulator may monitor call for training reasons.