We instructed a local solicitor for my conveyancing in Newmarket today. Looking through the small print it is apparent thatwe are liable for costs even if the sale doesn't happen. Should I go with them or appoint an on-line conveyancing company promoting no move no charge conveyancing in Newmarket?
Generally there is a compromise along the lines that if "No Sale No Fee" is advertised then the fee levels will generally be more expensive to neutralise the cases that do not go ahead. Please beware that these offerings tend not to protect you from expenses by way of example Newmarket conveyancing search expenses.
Me and my partner are due to exchange buying a house in Newmarket but as a consequence of wreckage from the recent storms I have managed to agree recompense from the vendor of £3k taking the form of a deduction in the price. I had intended this to be addressed as part of the conveyancing process however Aldermore will not agree to this. Should they have been approached?
Your conveyancer being on the Aldermore approved list is required to disclose to Aldermore of any variations to the purchase price. If you were to refuse your solicitor to disclose the reduction to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new conveyancing practitioner for your conveyancing in Newmarket.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Newmarket lawyer on the Leeds Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Newmarket bank branch on a couple of occasions and was informed it wasn't an issue and they will lend. My Newmarket conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend based on their specific requirements. I have no idea who is right.
Provided that the solicitor is on the mortgage company approved list, they must comply with the CML Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
My sealed bid on a detached house in Newmarket has been accepted, the vendors do nevertheless have a tied purchase. The sellers have offered on on an apartment, but it’s not been accepted yet, and have viewings of other properties in the pipeline. I have selected a local conveyancing solicitor in Newmarket. What should be my next step? At what stage do I apply for the mortgage with Nottingham?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of one thousand pounds, then survey, Newmarket conveyancing search charges, etc). First, you must check that your conveyancer is on the Nottingham conveyancing panel. Concerning the subsequent phase this very much depends on the circumstances of your transaction, motivation for this property and on the state of the market. During a buoyant market some buyers would apply for the mortgage with Nottingham and arrange for the valuation and only if it was satisfactory would they pay their property lawyer to move forward with searches.
I opted to have a survey carried out on a property in Newmarket in advance of retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies tend not issue a loan on this type of house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. If you call us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Newmarket. Conveyancing will be smoother if you use a solicitor in Newmarket especially if they are acquainted with such properties in Newmarket.
I'm refinancing my existing property to a buy to let loan with HSBC Bank and intend to use the remaining equity as a deposit on further house. The neighborhood we are looking at is Newmarket. Will your lawyers be able to act for both sets of mortgage companies and tie in the conveyances?
Make use of our search tool on this page to be sure that the lawyers are on the appropriate lender panels. Having checked that they are your lawyer should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and specify your desired outcome and needs.