I have a mortgage with Nottingham for my property in Stepney. Conveyancing has been completed 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nottingham?
Your original mortgage agreement with Nottingham will provide that you need their approval in advance of renting your property as this is likely to be a breach of Nottingham’s mortgage conditions. It may be that Nottingham 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 Nottingham directly. It should not be necessary to do this via a Nottingham conveyancing panel firm.
Intending to buy a maisonette in Stepney. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Stepney solicitor is on the Yorkshire BS conveyancing panel.
Santander have agreed my mortgage in principle, my offer on a apartment in Stepney has been agreed to, what are the next steps?
The property agent will wish to know who your solicitors are (ensure that the conveyancers are on the bank’s panel). Contact Santander or the broker and finish off any relevant documentation. Santander will instruct a valuer who will get in contact with the estate agent or owners to arrange a slot for the valuation to take place. Once carried out (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Santander will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Stepney.
I am purchasing a property and the conveyancer has referenced Chancel Repair for which the property may be obligated to pay as it falls into the area of such a church. She has suggested insurance. Is this really warranted for conveyancing in Stepney
Unless a previous acquisition of the property took place after 12 October 2013 you may take it that conveyancing practitioners delivering conveyancing in Stepney to remain encouraging a chancel search and or insurance against a claim.
About to purchase a new build flat in Stepney. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Stepney
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are surveyor prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Stepney is the location of the property. Can you offer any guidance?
Flying freeholds in Stepney are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stepney you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stepney may determine 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 property.
As co-executor for the will of my aunt I am selling a house in Neath but reside in Stepney. My lawyer (based 235 kilometers awayrequires that I execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing solicitor in Stepney to witness and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are Stepney based
I am purchasing a house and need a conveyancing solicitor in Stepney who is on the lender approved panel. Can you recommend a Stepney or local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the mortgage company who carry out conveyancing in Stepney. We dont recommend any particular solicitor.