My house in Bideford is up for sale and I have a purchaser. Will the property lawyer need to be required to be on the Principality conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Principality conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently in recent years.
Can you point me to a directory of Virgin Money panel solicitors in Bideford on the Council of Mortgage Lender’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lenders make their panel listings open the public online. If you are looking for a Bideford property lawyer on the Virgin Money please use our tool.
I had a mortgage agreed in principle with Nationwide. Bideford conveyancing solicitors have been appointed. How long does it take for Nationwide to send the offer to the property lawyer?
Some lenders take longer than others. Have Nationwide done the survey? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have paid off my mortgage with Nationwide. I assume I don't need a Bideford solicitor on the Nationwide panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nationwide 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 Nationwide mortgage from the register. Nationwide, 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 Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
I am buying a new build house in Bideford with the aid of help to buy. The builders would not budge the amount so I negotiated 6k of additionals instead. The property agent suggested that I not to tell my conveyancer about this extras as it would affect my mortgage with Santander. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I'm converting the mortgage on my current home to a BTL loan with Aldermore and intend to use the remaining equity towards a second property. The location we are talking about is Bideford. Will your lawyers be able to act for the two lenders and link together the two deals?
Do use our comparison tool on this site to be sure that the lawyers are approved by both banks. Having checked that they are your conveyancer will be able to connect the two conveyancing matters but you should talk with you solicitor and make clear your expectations and needs.
I need to find a conveyancing solicitor for purchase conveyancing in Bideford. I've land on a site which appears to be the perfect offering If there is a chance to get all this stuff completed via phone that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?