Me and my fiance are buying residence in Rayleigh. My Solicitor is not listed on the lender approved list. Can I still appoint my Rayleigh conveyancing solicitor even though they are excluded from the mortgage company panel of approved conveyancing solicitors?
One will need to instruct a lawyer to complete the legal work required when you require a loan to purchase your home. They will conduct all the necessary due diligence on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in order. One can appoint a Rayleigh conveyancer of your choice. However, where the conveyancer selected is not a member of the mortgage company approved list additional costs will be incurred as separate legal representation will be need by the bank. Bank panel applications can be submitted, so where your conveyancer has not in the past applied for membership they should do so.
My nephew is purchasing a newly built flat in Rayleigh with a home loan from Principality. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Principality conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Principality conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I have paid off my mortgage with Barclays. I assume I don't need a Rayleigh conveyancer on the Barclays panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Barclays 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 Barclays mortgage from the register. Barclays, 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 Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
The formalities of my remortgage has taken place for my property in Rayleigh. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
It is not clear whether my mortgage offer requires a lease extension. I have called my Rayleigh building society branch on a couple of occasions and was reassured it wasn't an issue and they will lend. My Rayleigh conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The conveyancing practitioner must follow the CML Handbook section two provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
The deeds to our home are lost. The lawyers who handled the conveyancing in Rayleigh 4 years ago no longer exist. Will I be able to sell the house?
Gone are the days when you need to hold title deeds to prove you own the land or premises, as the Land Registry have everything they need in a digital format.
I am looking for a flat up to £195,000 and identified one close by in Rayleigh I like with open areas and railway links nearby, however it only has 51 years unexpired on the lease. There is not much else in Rayleigh for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the shortness of the lease will be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.