I am in the throes of transferring my domestic home loan to a BTL TSB mortgage. The bank has said that I must appoint a lawyer as part of the process. I spoke to my past West Yorkshire conveyancing practitioner who dealt with the legals when I previously acquired the property. The quote e-mailed to me of £470 has taken me by surprise as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The charges are a tad high. If you you were to look around you may be able to shave off some of the cost by perhaps £125. That being said, providing that you were happy with the conveyancing the firm provided you mightlive to rue choosing an an untested conveyancer. Don't forget to be sure the conveyancer can represent TSB. Do employ our search tool to choose a West Yorkshire conveyancing firm on the TSB member panel, which can often include conveyancing solicitors in West Yorkshire.
Our son is buying a new build apartment in West Yorkshire with a home loan from Leeds Building Society. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are planning to acquire a property and require a conveyancing solicitor in West Yorkshire who is on the Virgin Money solicitor panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Virgin Money . We don't recommend any particular firms conducting conveyancing in West Yorkshire.
Should my lawyer be making enquiries concerning flooding during the conveyancing in West Yorkshire.
The risk of flooding is if increasing concern for conveyancers dealing with homes in West Yorkshire. There are those who purchase a house in West Yorkshire, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, but there are a numerous checks that can be initiated by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in West Yorkshire. The conventional set of property information forms sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a standard question of the seller to discover whether the property has suffered from flooding. In the event that the premises has been flooded in past which is not revealed by the seller, then a buyer could bring a legal claim for losses stemming from an incorrect response. A purchaser’s conveyancers will also commission an environmental report. This will reveal whether there is any known flood risk. If so, further inquiries will need to be conducted.
I'm purchasing my first flat in West Yorkshire benefiting from help to buy. The sellers would not move on the amount so I negotiated £7000 of extras instead. The property agent told me not disclose to my solicitor about the extras as it will put at risk my loan with the bank. 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 carried out on a property in West Yorkshire prior to instructing conveyancers. I have been advised that there is a flying freehold element to the property. The surveyor advised that some mortgage companies will refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different requirements from Halifax. Should you wish to call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in West Yorkshire. Conveyancing will be smoother if you use a solicitor in West Yorkshire especially if they regularly deal with such properties in West Yorkshire.