I am due to complete on the purchase of a property in Morpeth but as a result of damage from the recent storms I have managed to agree recompense from the seller of £3k taking the form of a adjustment in the price. This was going to be dealt with as part of a side agreement yet Virgin Money are not allowing this. Why were they involved?
The lawyer being on a Virgin Money conveyancing panel is required to inform Virgin Money of any amendments to the purchase price. If you prohibit your lawyer to notify the price change to Virgin Money then they would have to discontinue acting for you. In addition, Virgin Money and you would have to appoint a new solicitor for your conveyancing in Morpeth.
My bank has recommended a law firm on their panel based in Morpeth but I would rather choose a conveyancing lawyer in Morpeth round the corner to me. Are you able to help?
Far from all Morpeth conveyancing solicitors are approved and listed on all banks conveyancing panel. Do make the most of our search tool to find a Morpeth conveyancing firm on the on the lender panel.
We previously selected conveyancers locally in Morpeth on the Barclays solicitor panel. They are now charging me an additional charge for handling the Barclays mortgage. Is this an additional conveyancing fee specified by Barclays?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your conveyancer may charge a fee for this. This fee is not set by Barclays but by your Morpeth lawyer. Numerous firms on the Barclays panel will quote ’dealing with mortgage’ fee and others do not.
I currently have a mortgage with Skipton for my property in Morpeth. Conveyancing has been completed 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?
Your original mortgage agreement with Skipton will provide that you need their approval in advance of renting your property as this is likely to be a breach of Skipton’s mortgage conditions. It may be that Skipton will allow you to rent 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 Skipton directly. It should not be necessary to do this via a Skipton conveyancing panel lawyer.
The formalities of my purchase has taken place for my property in Morpeth. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
What does a local search reveal regarding the property we're buying in Morpeth?
Morpeth conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for example Xpress Legal The local search is essential in every Morpeth conveyancing purchase; that is if you don’t want any nasty once you have moved into your new home. The search will provide information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
I am looking for a ground for flat up to £305k and identified one close by in Morpeth I like with open areas and railway links in the vicinity, however it only has 49 years on the lease. There is not much else in Morpeth suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan that many years may be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.