My wife and I are purchasing a newly constructed duplex in Ruislip Gardens and my conveyancer is advising me that she has to the mortgage company to disclose incentives from the builder. I am under pressure to sign contracts and I don't want to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. 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 uncle passed away 10 months ago and as sole heir and executor I was left the property in Ruislip Gardens. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this allowed?
Where 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Ruislip Gardens ahead of instructing conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some banks may refuse to give a mortgage on such a property.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. If you contact us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Ruislip Gardens. Conveyancing may be slightly more expensive based on your lender's requirements.
My cousin has encouraged me to appoint his lawyers for conveyancing in Ruislip Gardens. Do I follow his recommendation?
There are no two ways about it the ideal way to find a conveyancing solicitor is to seek recommendations from friends or family who have previously instructed the conveyancer you're are thinking of instructing.
When it comes to my conveyancing in Ruislip Gardens should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Ruislip Gardens conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.