I am considering refinancing my apartment in North Cheam, does my lawyer have to be on the Virgin Money Conveyancing panel?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Is there a list of Skipton panel solicitors in North Cheam on the Building Society Association’s Website?
No. There is no such facility on the CML or Building Society Association sites. A small selection of lenders make their panel listings visible on the web. Where you are seeking to appoint a North Cheam solicitor on the Skipton please use our facility.
We are getting a further advance on our home loan from Clydesdale as we wish to carry out improvements to our home in North Cheam. Are we obliged to select a nearby North Cheam solicitor on the Clydesdale conveyancing panel to handle the legals?
Clydesdale would not normally appoint a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale panel.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my North Cheam bank branch on numerous occasions and was told it wasn't an issue and they would lend. My North Cheam conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
The property lawyer must follow the CML Handbook section two requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am purchasing a new build house in North Cheam with a mortgage from Nottingham Building Society. The developers would not move on the price so I negotiated 6k of fixtures and fittings instead. The sale representative told me not to tell my lawyer about the side-deal as it would impact my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. North Cheam is the location of the property. Is there any guidance you can impart?
Flying freeholds in North Cheam are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in North Cheam you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in North Cheam may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Should one remove a departed person's details from the title deeds for a property in North Cheam?
Where a North Cheam property is co-owned and one of the owners dies, their name will not automatically be removed from the Land Registry title. It is not necessary to remove their name as in the event of a sale you would just be required to evidence as to the reason the other owner is not included in the contract, normally this takes the form of a grant of probate.
With the aim of making the sale conveyancing smoother for the sale of the property you can apply to have the deceased name removed from the title by submitting an application to HM Land Registry with proof of the death. There is no charge from the Registry for this service.