What is the first thing I need to know regarding purchase conveyancing in Caistor?
You may not hear this from too many lawyers but conveyancing in Caistor or throughout England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there is lots of opportunity for conflict between you and others involved in the house moving process. For instance, the vendor, property agent and on occasion the bank. Appointing a law firm for your conveyancing in Caistor should not be taken lightly as your conveyancer is your adviser, and is the ONE person in the process whose responsibility is to act in your legal interests and to keep you safe.
Sometimes a third party with a vested interest may attempt to persuade you that it is in your interests to do things their way. For instance, the selling agent may claim to be assisting by suggesting your lawyer is slow. Or your mortgage broker may try to convince you to do something that is against your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
A relative pointed out to me me that in buying a property in Caistor there may be various restrictions prohibiting external alterations to the property. Is this right?
We are aware of a number of properties in Caistor which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Caistor should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have a mortgage with Virgin Money for my property in Caistor. Conveyancing was finalised a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Virgin Money?
Virgin Money must be informed of your intention in advance of renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. You need not do this via a Virgin Money conveyancing panel lawyer.
Skipton have agreed my mortgage in principle, my bid on a house in Caistor has been agreed to, what happens next?
The estate agent will wish to be advised as to your conveyancing practitioner's details (ensure that the conveyancers are on the bank’s approved list). Call up Skipton or the broker and finalise any relevant documentation. Skipton will appoint a valuer who will get in contact with the estate agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes on average ten days to receive the mortgage offer. Skipton will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Caistor.
I own a renovated Victorian property in Caistor. Conveyancing solicitor represented me and Santander. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold with the matching property. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Caistor and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing practitioner who conducted the conveyancing.
Due to the advice of my in-laws I had a survey completed on a property in Caistor ahead of retaining solicitors. I have been informed that there is a flying freehold element to the property. The surveyor has said that some banks tend not give a mortgage on such a property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Caistor. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Caistor to see if the conveyancing will be more expensive.
We are looking to purchase a repossessed house in Caistor and the bank selling require completion inside a month. Do conveyancers meet that timeframe? Would it be better to instruct a high street Caistor firm or an online firm that professes to complete quickly?
Visit your Caistor high street. Go in to a couple of solicitor’s offices and ask to talk to a conveyancing solicitor for a quote. Set out your situation and get a commitment on time frames. Select the firm that comes across as most efficient. Be sure to select a property lawyer on the panel of property lawyers approved by your mortgage company.