Our solicitor has identified a a legal deficiency with the lease for the property we are purchasing in Newport Pagnell. The other side have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our property lawyer says that he must be satisfied that the lender is willing to move forward with this solution. Who is the client here, us or the bank?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the lender are the client. These conveyancing instructions have to be complied with.
We are looking to buy a house and require a conveyancing solicitor in Newport Pagnell who is on the Virgin Money solicitor panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Virgin Money . We don't recommend any particular firms conducting conveyancing in Newport Pagnell.
My aunt advised me that in buying a property in Newport Pagnell there may be a number of restrictions preventing external changes to a property. Is this right?
There are anumerous of properties in Newport Pagnell which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Newport Pagnell should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have today made my last payment due on my mortgage with Coventry BS. I assume I don't need a Newport Pagnell conveyancer on the Coventry BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
The formalities of my purchase has taken place for my property in Newport Pagnell. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
My colleague advised me that if I am purchasing in Newport Pagnell I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Newport Pagnell conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Newport Pagnell around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Newport Pagnell Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information concerning Newport Pagnell.
I have been on the look out for a flat up to £195,000 and found one near me in Newport Pagnell I like with amenity areas and railway links nearby, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Newport Pagnell in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
My sealed bid on detached house in Newport Pagnell was agreed to, but there is a chain. The sellers have offered on a flat, although it’s not yet tied up, and has viewings of other apartments in the pipeline. I have instructed a nearby conveyancing lawyer in Newport Pagnell. What do I do now? When do I get the mortgage application with Clydesdale started with Clydesdale?
It is standard to have apprehensions where there is a chain given your reluctance to incur costs prematurely (mortgage application is approx one thousand pounds, then valuation, Newport Pagnell conveyancing search fees, etc). The first thing to do is check that your conveyancing practitioner is on the Clydesdale approved list. Regarding the next stages this very much depends on the circumstances of your case, desire for the property and on the state of the market. In a hot market many buyers will apply for the mortgage with Clydesdale and arrange for the survey and only if it comes back ok would they ask their solicitor to proceed with searches.