My property lawyer in Rumney has never been on on the National Westminster Bank Solicitor Panel. Is it possible for me to use my prefered solicitor even though they are excluded from the National Westminster Bank panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your existing Rumney solicitors but National Westminster Bank will need to retain a lawyer on their list of acceptable firms. This will result in additional overall conveyancing charges as well as cause delays.
- Find a new lawyer to act in the conveyancing, not forgetting to check they are on the National Westminster Bank panel
Forgive me if this question is silly but I am wet behind the ears as a first time buyer of a ground floor flat in Rumney. Do I collect the keys to the house on completion from my lawyer? If this is the case, I will use a local conveyancing solicitor in Rumney?
On the day of completion you do not need to go to the conveyancers office in Rumney. Conveyancing lawyers for you will transfer the completion advance to the seller's conveyancers, and once they have received this, you will be able to collect the keys from the Estate Agents and start moving into the property. Usually this happens between 1 and 3pm.
I have a mortgage with HSBC for my property in Rumney. Conveyancing was finalised a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
HSBC must be informed of your intention in advance of renting your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will permit you to let 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 HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel firm.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Rumney bank branch on a couple of occasions and was told it does not impact the mortgage offer and they will lend. My Rumney conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. I simply don't know who is right.
The conveyancer must follow the Council of Mortgage Lenders’ Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am buying my first flat in Rumney with a mortgage from Halifax. The sellers would not move on the amount so I negotiated five thousand pounds worth of extras instead. The property agent advised me not disclose to my solicitor about the deal as it would impact my loan with Halifax. 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 decided to have a survey done on a house in Rumney before appointing conveyancers. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some lenders will not issue a mortgage on a flying freehold house.
It depends who your proposed lender is. HSBC has different instructions from Halifax. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Rumney. Conveyancing may be slightly more expensive based on your lender's requirements.
My brother has recommend that I appoint his lawyers for conveyancing in Rumney. Should I use them?
Much as we are happy to recommend a Rumney conveyancing lawyer it’s preferable to find a conveyancing practitioner is to seek referrals from friends or family who have actually experience in using the solicitor that you are contemplating using.
Should I be worried if there is a problem with the searches carried out as part of my conveyancing in Rumney?
Normally, almost all issues arising from Rumney conveyancing search responses can be addressed in advance of completion or indemnity insurance could possibly be obtained. You should note that even though you are purchasing the premises and might be content to accept the search results, your lender may not, and when all said and done have the final decision.