We are about to sign contracts for a garden flat in Temple. We encountered a stumbling block. The loan offer with runs out on but the sellers are suggesting a completion date of . Can one extend the mortgage expiry date?
The best person to address this question is your conveyancer who will hopefully determine if he or she is better off negotiating with the mortgage company, vendor’s lawyers, estate agents or indeed all parties taking into account the history of your conveyancing as of today.
About to purchase maisonette in Temple. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Temple is on the conveyancing panel.
I have instructed a Temple having checked that they are on the conveyancing panel. Does my lawyer arrange the survey of the property?
will need an independent valuation of the property. Your lawyer will not arrange this. Usually 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. Your will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Temple postcode. As you are getting a mortgage with , you could contact them to see if they have a list of approved surveyors in Temple.
My sealed bid on a semi in Temple has been agreed to, but there is a chain. The vendors have placed an offer on a property, however it’s not yet agreed to, and are looking at other apartments in the pipeline. I have instructed a high street conveyancing solicitor in Temple. What should be my next step? At what point do I apply for the mortgage with ?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx one thousand pounds, then valuation, Temple conveyancing search costs, etc). The first thing to do is check that your is on the approved list. Regarding the subsequent phase this very much dictated by the circumstances of your case, motivation for this property and on the state of the market. During a buoyant market many buyers will apply for a home loan with and pay for the valuation and only if it was satisfactory would they ask their to proceed with the conveyancing in Temple.
I am purchasing my first flat in Temple with a loan from . The developers would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The property agent told me not inform my conveyancer about this extras as it may put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Temple is the location of the property. Is there any guidance you can impart?
Flying freeholds in Temple are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Temple you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Temple may decide 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.
My wife and I have recently appointed a conveyancing solicitor in Temple. I I would like to check if they are listed on the lender's approved list of lawyers. Could you advise?
One option is to contact the lawyer to check if they are on the lender's panel. If that does not help get in touch with us and we can investigate and revert. If they are not on the conveyancing panel we we can help find a reputable conveyancing solicitor in Temple on the approved list for your mortgage company.