My wife and I are purchasing a brand new flat in Walkden and my conveyancer is advising me that she is duty bound to the mortgage company to reveal incentives from the seller. The Estate Agents are hassling me to exchange contracts and I would rather not prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My grandmother passed away 10 months ago and as sole heir and executor I was left the house in Walkden. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this possible?
Given you intend to refinance then Virgin Money will require that you use a conveyancer on the Virgin Money conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Virgin Money conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Virgin Money mortgage is registered as a charge at the Land Registry.
What can a local search reveal about the house we're purchasing in Walkden?
Walkden conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company such as PSG The local search is essential in every Walkden conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your new home. The search should provide information on, amongst other things, details on planning applications applicable to the property (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 thirteen topic headings.
I decided to have a survey completed on a house in Walkden prior to retaining conveyancers. I have been told that there is a flying freehold element to the property. My surveyor has said that some banks will not issue a loan on a flying freehold home.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Walkden. Conveyancing may be slightly more expensive based on your lender's requirements.
I am selling my home. My former solicitors have shut. I am in need of a recommendation of a conveyancing firm. I happen to live in Walkden if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Walkden. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.