I am acquiring a leasehold flat in Saltney. My property lawyer has never been on on the mortgage company solicitor panel. Is it possible for me to continue with my Saltney conveyancing solicitor even though they are excluded from the mortgage company panel?
You have a couple of alternatives available to you here
- Complete the purchase with your chosen Saltney conveyancing practitioner but your lender will no doubt instruct a solicitor on their conveyancing panel. This will result in additional fees together with probable delay.
- Choose a fresh lawyer to conduct the conveyancing, making sure they are on the lender conveyancing panel.
- Convince your conveyancer to pull out all the stops to get listed on the lender’s panel of solicitors
A relative pointed out to me me that in buying a property in Saltney there could be various restrictions affecting the ability to carry out external alterations to the property. Is this right?
There are a number of properties in Saltney which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Saltney should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Can I be sure that the Saltney conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Saltney obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor conducting your transaction.
I currently have a mortgage with HSBC for my property in Saltney. Conveyancing has been completed some time 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 HSBC?
HSBC must be informed of your intention before renting your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC 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 HSBC directly. You need not do this via a HSBC conveyancing panel firm.
Should my lawyer be raising enquiries about flooding as part of the conveyancing in Saltney.
The risk of flooding is if increasing concern for lawyers dealing with homes in Saltney. Some people will acquire a property in Saltney, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, however there are a various checks that can be initiated by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in Saltney. The standard information given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a usual question of the seller to determine whether the property has suffered from flooding. If the residence has been flooded in past which is not notified by the owner, then a buyer may bring a compensation claim as a result of such an incorrect answer. A buyer’s lawyers may also conduct an environmental search. This should higlight if there is any known flood risk. If so, more detailed inquiries should be made.
It has been five months since my purchase conveyancing in Saltney completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a ground for flat up to £305k and found one close by in Saltney I like with amenity areas and railway links in the vicinity, however it only has 52 years unexpired on the lease. There is not much else in Saltney in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan that many years may be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
I need to retain a conveyancing solicitor for sale conveyancing in Saltney. I have chance upon a web site which looks to be the ideal offering If it is possible to get all the legals done via email that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?