My flat in Kingsley is up for sale and I have accepted an offer. Does my conveyancer need to be on the Lloyds conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Lloyds conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
I'm purchasing a new build house in Kingsley benefiting from help to buy. The developers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not inform my lawyer about the deal as it would affect my loan with the lender. Is this normal?.
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.
Due to the advice of my in-laws I had a survey completed on a property in Kingsley in advance of instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some lenders may refuse to give a mortgage on this type of property.
It varies from the lender to lender. Lloyds has different requirements from Halifax. Should you wish to telephone us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Kingsley. Conveyancing will be smoother if you use a solicitor in Kingsley especially if they are acquainted with such properties in Kingsley.
We're novice buyers - agreed a price, but the estate agent informed us that the seller will only issue a contract if we instruct their chosen solicitors as they need an ‘expedited deal’. My instinct tells me that we should use a local solicitor used to conveyancing in Kingsley
We suspect that the owner is not behind this ultimatum. If they desire ‘a quick sale', turning down a serious buyer is not the way to achieve this. Speak to the owners direct and explain that (a)you are genuine buyers (b)you are ready to go, with finances in place © you do not need to sell (d) you intend to proceed fast (e)but you are going to instruct your preferred Kingsley conveyancing solicitors - not the ones that will provide the estate agent a commission or achieve conveyancing figures demanded by senior management.
My hope is to purchase a ground floor maisonette in Kingsley. Conveyancing solicitor is awaiting, from the seller, building insurance paperwork. This afternoon I was informed that the seller must send the insurance documents for the flat above also. Why would my lawyer need to review the insurance for the other flat? Is it strictly necessary? We have been waiting for the last fortnight…
It is not impossible in leasehold conveyancing in Kingsley to discover Conveyancing in Kingsley in a minority of cases reveals that the lease provides for the tenant's to insure their individual flats as opposed to the landlord insuring the complete block - which is clearly better. You should contact your lawyer but it would seem that your solicitor is seeking to establish that the entire building is insured. Insuring a ground floor apartment is no help when it comes to rebuilding after a fire if the 1st floor cannot be rebuilt due to lack of insurance.