I am expecting a mortgage offer from Nat West. My intention is to employ the services of a Licensed Conveyancer in Malmesbury. Does the Nat West Solicitor panel exclude Licensed Conveyancers?
The Nat West conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
It is 10 years ago since I purchased my property in Malmesbury. Conveyancing lawyers have just been appointed on the sale but I can't track down the deeds. Will this cause complications?
You need not be too concerned. Firstly the deeds may be retained by the mortgage company or they could still be with the lawyers who acted in the purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. The vast majority of conveyancing in Malmesbury involves registered property but in the rare situation where your property is not registered it adds to the complexity but is not insurmountable.
Should my lawyer be raising questions about flooding as part of the conveyancing in Malmesbury.
Flooding is a growing risk for lawyers conducting conveyancing in Malmesbury. Plenty of people will acquire a house in Malmesbury, completely expectant that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, but there are a various checks that may be undertaken by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Malmesbury. The standard property information forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to determine whether the premises has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the owner, then a purchaser could bring a compensation claim resulting from an incorrect answer. The buyer’s solicitors may also conduct an enviro report. This should disclose whether there is any known flood risk. If so, additional investigations should be conducted.
I'm purchasing a new build house in Malmesbury with a mortgage from Chelsea Building Society. The builders refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not reveal to my lawyer about the deal as it may put at risk my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I have been on the look out for a flat up to £245,000 and identified one round the corner in Malmesbury I like with a park and station in the vicinity, however it's only got 49 years on the lease. I can't really find anything else in Malmesbury for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
My cousin is buying a shared ownership flat in Malmesbury. He was given a quote by the lawyer connected to the estate agents totaling £1245 . It was ten years ago I sold and purchased a property and it cost was £495. Have costs really escalated to that extent?
We would recommend that you e-mail a few local Malmesbury conveyancing solicitors requesting estimates. You should base your selection not only on cost, but on promptness and on how comprehensive the reply is.