I am being advised by my lawyer that missing deeds insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Meopham?
The right level of missing deeds indemnity insurance depends on your lender. It would differ for example between Santander and Barnsley Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
I am the single beneficiary of my late father’s estate with all property in now in my sole name, including the house in Meopham. The Meopham property was put into my name in May. I plan to dispose of the house. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship could be considered the same way as though I had purchased the house in May. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook obliges 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 might be affected by that. How practical a view lenders take of it, depend on the mortgage company as this requirement is principally there to capture subsales or the flipping of property.
I currently have a mortgage with Principality for my property in Meopham. Conveyancing was finalised 12 months ago. Should I wish 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 Principality?
Your original mortgage agreement with Principality will provide that you need their approval prior to letting out your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality 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 Principality directly. You need not do this via a Principality conveyancing panel firm.
I have recentlybecome aware that Stirling Law have been shut down. They carried out my conveyancing in Meopham for a purchase of a leasehold apartment 10 months ago. How can I establish that the property is in my name in the name of the previous owner?
The quickest method to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Meopham conveyancing specialists.
I am buying a new build house in Meopham benefiting from help to buy. The sellers would not move on the amount so I negotiated £7000 of additionals instead. The estate agent suggested that I not disclose to my conveyancer about the side-deal as it may put at risk my loan with Alliance & Leicester . 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.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Meopham is the location of the property. Is there any advice you can give?
Flying freeholds in Meopham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Meopham you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Meopham may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I have been advised by two or three local property agents in Meopham to choose a property lawyer on your site. What’s the financial incentive for Estate Agents to recommend your lawyers ahead of another?
We refuse to make any referral fee for pointing buyers and sellers in our direction. We found it would be just too difficult a fee as members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
Your search tool is useful but there are many lawyers listed near Meopham being on the bank conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the lender approved panel?
We do not recommend specific Meopham firms as the right Meopham conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Meopham knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..