I am hoping to receive a mortgage offer from Halifax. I intend to retain the legal services of a Licensed Conveyancer in Spilsby. Does the Halifax Conveyancing panel exclude conveyancers regulated by the CLC?
The Halifax conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
We have rather pushy vendors who has insisted on a preliminary agreement with a down payment 10k. Are such agreements sensible?
This kind of preliminary agreement is unusual in Spilsby, conveyancers will often encourage clients away from them as they divert attention from the primary objective, namely conveyancing and if you end up losing your deposit then the solicitor at best left with an upset client and at worst a litigious one. In addition, there is no assurance that just because the owner has executed an exclusivity contract they will complete the sale with you. They may be in contravention of the contract if they are offered a big enough incentive to do so because a wronged purchaser with the benefit of a exclusivity agreement will still be legally obliged to show losses as a consequence of the breach and these may not equalise the extra amount that your vendor may obtain by breaking the contract, no matter how morally condemnable it undoubtedly is.
My husband and I have organised the release of further funds on our home loan from Leeds Building Society as we wish to conduct a loft conversion to our home in Spilsby. Do we need to choose a high street Spilsby solicitor on the Leeds Building Society conveyancing panel to handle the legals?
Leeds Building Society don't usually appoint firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society panel.
I currently have a mortgage with HSBC for my property in Spilsby. Conveyancing has been completed months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
Your original mortgage agreement with HSBC will provide that you need their approval before letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC 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 HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel firm.
Intending to buy a maisonette in Spilsby. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Aldermore 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 Spilsby solicitor is on the Aldermore conveyancing panel.
Various web forums that I have visited warn that are the main reason for delay in Spilsby house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Spilsby.
Me and my brother purchased a semi-detached Georgian house in Spilsby. Conveyancing practitioner acted for me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Spilsby 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 enquire as to the position with your conveyancing lawyer who conducted the conveyancing.