I am getting a mortgage with Nat West. I intend to use a Licensed Conveyancer in Upney. Does the Nat West Solicitor panel include conveyancers regulated by the CLC?
The Nat West conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
A colleague pointed out to me me that in buying a property in Upney there could be various restrictions prohibiting external alterations to a property. Is this right?
We are aware of anumerous of properties in Upney which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Upney should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Upney solicitors on the Principality conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Principality conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Some banks do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers.
After shopping around on the internet I have found a Upney solicitor having checked that they are on the Santander conveyancing panel. Does my lawyer arrange the survey of the property?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Upney surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My friend advised me that where I am buying in Upney I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Upney conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Upney around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information concerning Upney.
I opted to have a survey done on a house in Upney before retaining solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some banks may refuse to issue a mortgage on this type of property.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. If you call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Upney. Conveyancing will be smoother if you use a solicitor in Upney especially if they regularly deal with such properties in Upney.
I'm converting the mortgage on my primary property to a buy to let loan with National Westminster Bank and I will use the ballance of the raised equity as a down payment on a second house. The neighborhood we are looking at is Upney. Will your solicitors be able to act for both sets of lenders and tie in the conveyances?
Do use our comparison tool on this site to ensure that the lawyers are approved by both banks. On the basis that they are your solicitor should be able to connect the two conveyancing matters but you should talk with you conveyancer and make clear your desired outcome and needs.
I dont have enough spare funds to pay a 10% deposit on my flat purchase in Upney , but I am keen exchange. What can I do?
One option is to try and accept a smaller deposit. Most property owners will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute