My Solicitor in Markyate has never been on on the Nottingham Building Society Conveyancing Panel. Can I still continue with my family solicitor even though they are not on the Nottingham Building Society approved list?
Your options are as follows:
- Carry on with your existing Markyate lawyers but Nottingham Building Society will need to instruct a solicitor on their panel. This will result in additional total conveyancing fees and cause delays.
- Choose an alternative practitioner to act in the purchase, obviously checking they are Convince your conveyancer to do everything within their powers to join the Nottingham Building Society conveyancing panel
Do I need to pay for insurance to protect me from financial exposure to chancel repairs when buying a residence in Markyate?
Unless a previous acquisition of the premises completed post 12 October 2013 you could assume that solicitors handling conveyancing in Markyate to remain encouraging a chancel search and or chancel repair liability policy.
I have a semi-detached Georgian house in Markyate. Conveyancing solicitor represented me and Platform Home Loans Ltd. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Markyate 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 buyers. You can also check the situation with your conveyancing practitioner who carried out the work.
I am buying my first flat in Markyate with a mortgage from Chelsea Building Society. The sellers refused to budge the amount so I negotiated 6k of extras instead. The property agent advised me not disclose to my lawyer about the side-deal as it would jeopardize my mortgage with Chelsea Building Society. Do I keep my lawyer in the dark?.
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.
Due to the encouragement of my in-laws I had a survey completed on a house in Markyate before retaining conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies may refuse to issue a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Markyate. Conveyancing may be slightly more expensive based on your lender's requirements.
My wife and I are disposing of a Markyate house we inherited 5 years ago in 2011. I have over a decades worth of conveyancing knowledge and, now retired, intend to do the legal work. The purchaser's solicitor has informed me that their mortgage company will not allow us to do our own conveyancing mandating that the funds to be transferred to a solicitor's bank account.
Mortgage requirements to property lawyers from all mainstream lenders state that If the vendor is not legally represented the buyer’s lawyers should check whether the lender needs to be informed so that a decision can be made if they are willing to progress.