I am mortgaging my property in Rainham Kent, does my lawyer need to be on the Clydesdale Conveyancing panel?
There is nothing to stop you using your solicitor, but Clydesdale 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.
My partner and I have arranged the release of further monies on our home loan from Bank of Ireland as we want to carry out a loft conversion to our home in Rainham Kent. Are we obliged to choose a local Rainham Kent solicitor on the Bank of Ireland conveyancing panel to handle the legals?
Bank of Ireland do not ordinarily instruct a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Bank of Ireland list.
I can not work out if my mortgage offer requires a lease extension. I have telephoned my Rainham Kent bank branch on various occasions and was told it does not impact the mortgage offer and they will lend. My Rainham Kent conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the lender approved list, they must adhere to the Council of Mortgage Lenders’ Handbook requirements for the 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 left on the lease.
Planning on purchasing a maisonette in Rainham Kent. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Rainham Kent property lawyer is on the Lloyds conveyancing panel.
I am buying my first flat in Rainham Kent with a loan from Britannia. The developers would not reduce the price so I negotiated £7000 of additionals instead. The sale representative told me not inform my conveyancer about this side-deal as it could jeopardize my mortgage 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.
How easy is it to use the search tool to choose a conveyancing solicitor in Rainham Kent on the authorised to act for my mortgage?
Step one is to pick a lender such as Yorkshire Building Society, Virgin Money or Bank of Ireland then type in your preferred area such as Rainham Kent. Conveyancing organisations in Rainham Kent and across England and Wales will then be shown.
Am I best advised to use a Rainham Kent conveyancing solicitor based in the location that I am hoping to buy? An old friend can deal with the legal formalities however her office is a couple of hundredkilometers away.
The primary upside of using a local Rainham Kent conveyancing firm is that you can attend the office to execute paperwork, hand in your ID and pester them where appropriate. They will also have local knowledge which is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and the majority were content that should trump using an unfamiliar Rainham Kent conveyancing lawyer solely due to them being Rainham Kent based.