Please help - my lawyer says that absentee landlord insurance is required on my purchase. What is the level of cover for Stilton conveyancing?
The appropriate level of absentee landlord indemnity insurance should be dictated by who your lender. It would differ for example between Birmingham Midshires and Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such policies.
We were going to get a AIP from Coventry BS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Coventry BS recommend any Stilton solicitors on the Coventry BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Stilton solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
I can not work out if my lender requires a lease extension. I have called into my local Stilton building society branch on a couple of occasions and was told it does not impact the mortgage offer and they will lend. My Stilton conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the solicitor is on the bank panel, she or he must adhere to the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Various internet forums that I have come across warn that are the primary cause of obstruction in Stilton conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Stilton.
My wife and I own a semi-detached Georgian property in Stilton. Conveyancing lawyer acted for me and Alliance & Leicester . I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold under the exact same address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stilton and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing lawyer who carried out the work.
I'm purchasing my first flat in Stilton with the aid of help to buy. The sellers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not reveal to my solicitor about the deal as it would adversely affect my mortgage with Leeds Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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 have been sourcing a conveyancing practitioner in Stilton for my house move. Is it possible to review a solicitor's complaints history with the legal regulator?
You can search for published Solicitor Regulator Association (SRA) decisions resulting from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA may recorded call for training reasons.
I am on look out for some leasehold conveyancing in Stilton. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Stilton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Stilton Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
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Does the lease contain onerous restrictions? How much is the ground rent and service charge?