My flat in De Beauvoir Town is up for sale and I have a purchaser. Does the conveyancer have to be required to be on the Barclays conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Barclays 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 conditions fairly frequently at the moment.
Various online forums that I have visited warn that are a common cause of obstruction in De Beauvoir Town house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays during the legal transfer of property. Searches are unlikely to feature in any delay in conveyancing in De Beauvoir Town.
I have todayfound out that Action Conveyancing have been shut down. They conducted my conveyancing in De Beauvoir Town for a purchase of a leasehold flat 10 months ago. How can I be sure that my home is in my name in the name of the previous owner?
The easiest way to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of De Beauvoir Town conveyancing specialists.
I am buying a new build house in De Beauvoir Town with a loan from Godiva Mortgages Ltd. The developers refused to budge the price so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not reveal to my conveyancer about this extras as it may impact my loan with the lender. 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.
My wife and I are purchasing a 2 bedroom flat in De Beauvoir Town. At the time of instructing our lawyer, they said that they were on all mainstream mortgage company panels. Our financial adviser called yesterday to say that they are not on the Santander approved list. If it turns out to be true, what should we do? Should we simply pick a different lawyer that is on their approved list or do we cover the costs for dual representation, with Santander selecting their own preferred conveyancing practitioner.
When purchasing a property with the benefit of a mortgage it is standard for the buyer’s lawyers to also represent the purchaser's lender. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's conveyancing panel. An application has to be made by the property lawyer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the solicitor has to fulfill. Some mortgage companies now insist their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should call Santander to discover if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on Santander's conveyancing panel and you may continue to use your own De Beauvoir Town solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.