The mortgage over my property is with Principality for my property in Mere. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Principality?
You must advise Principality prior to renting your property as this is likely to be a breach of Principality’s mortgage conditions. In many cases banks or building societies 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. It should not be necessary to do this via a Principality conveyancing panel solicitor.
I recently had an offer accepted on an apartment in Mere. My financial adviser suggested a conveyancer. I paid an advanced payment of £175. A few days later, the lawyer called me to say that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Our sealed bid on a house in Mere has been accepted, the vendors do however have a dependent purchase. The vendors have put an offer on a flat, however it’s not been accepted yet, and are looking at other apartments booked. I have selected a local conveyancing solicitor in Mere. What should be my next step? When should I get the mortgage application with Coventry BS started?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then survey, Mere conveyancing search fees, etc). The first thing to do is ensure that your conveyancing practitioner is on the Coventry BS approved list. As to the subsequent phase this very much depends on the uniqueness of your case, desire for this property and on the state of the market. In a hot market some buyers will apply for a home loan with Coventry BS and pay for the valuation and only if it comes back ok would they request their conveyancing practitioner to press on with searches.
I need some quick conveyancing in Mere as I am faced with an ultimatum to exchange contracts inside 3 weeks. Thankfully I do not require a mortgage. Is it possible to escape the need for conveyancing searches to save fees and time?
If.Given you are not taking a home loan you are at free not to have searches carried out although no law firm would recommend that you don't. With plenty of history conveyancing in Mere the following are examples of what can crop up and adversely affect market value: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Road Schemes,...
Are there restrictive covenants that are commonly picked up during conveyancing in Mere?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Mere. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a flat up to £245,000 and identified one near me in Mere I like with amenity areas and transport links nearby, however it's only got 52 years on the lease. I can't really find anything else in Mere in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the shortness of the lease will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
What does commercial conveyancing in Mere cover?
Mere conveyancing for business premises covers a broad array of services, provided by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
We're new to the buying process - agreed a price, yet the property agent advised that the vendor will only issue a contract if we use the agent's recommended solicitors as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a local solicitor accustomed to conveyancing in Mere
It is highly unlikely the vendors are behind this. Should the seller want ‘a quick sale', turning down a serious buyer is not the way to achieve this. Speak to the owners direct and explain that (a)you are keen to buy (b)you are ready to go, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)however you will continue to instruct your own,trusted Mere conveyancing solicitors - as opposed tothose that will provide the negotiator at the agency a commission or achieve conveyancing figures set by senior management.