I am soon to complete on the purchase of a house in Yaxley but as a result of wreckage from a small fire at the property I have managed to agree compensation from the vendor of £2k in the form of a adjustment in the price. This was going to be addressed as part of amending the contract but Kent Reliance are not allowing this. Should they have been involved?
Any conveyancer being on the Kent Reliance approved list is required to inform Kent Reliance of any amendments to the purchase price. If you prohibit your lawyer to report the reduction to Kent Reliance then they would have to discontinue acting for you. In addition, Kent Reliance and you would have to appoint a new property lawyer for your conveyancing in Yaxley.
My aunt passed away six months ago and as sole heir and executor I was left the property in Yaxley. The house had a small mortgage left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to UBS, pay off the mortgage. Is this allowed?
Where you intend to re-mortgage then UBS will insist on your using a conveyancer on the UBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your UBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the UBS mortgage is registered as a charge at the Land Registry.
When it comes to lenders such as Virgin Money, do Yaxley lawyers face a fee to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
Is it the case that all Yaxley solicitor practices on the RBS conveyancing panel are governed by the SRA?
As solicitors, in order to be on the RBS conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Many banks do list licenced conveyancers on their panel in which case such organisation would be governed by the CLC.
I've digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Yaxley solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society 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 Yaxley 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.
I'm purchasing a new build house in Yaxley with a mortgage from Aldermore. The sellers refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The property agent told me not disclose to my conveyancer about this extras as it would impact my mortgage with Aldermore. 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what should have been a straight forward, chain free conveyancing. Yaxley is where the house is located. Is there any guidance you can impart?
Flying freeholds in Yaxley are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Yaxley you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Yaxley may ascertain 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 premises.
I'm remortgaging my existing home to a buy to let mortgage with Britannia and intend to use the remaining equity as a deposit on a second house. The area we are looking at is Yaxley. Will your lawyers be able to act for both sets of mortgage companies and link together the conveyances?
Do use our comparison tool on this site to be sure that the solicitors are approved by both banks. On the basis that they are the conveyancer will be able to tie up the two deals but you should have a chat with you conveyancer and specify your expectations and requirements.