I am obtaining a mortgage offer from Santander. My intention is to instruct a Licensed Conveyancer in Richmond Upon Thames. Does the Santander Solicitor panel include conveyancers regulated by the CLC?
The Santander approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
Do conveyancers ask for money on account for conveyancing in Richmond Upon Thames?
If you are buying a property in Richmond Upon Thames your solicitor will request that you to provide them with funds to cover the the cost of the conveyancing searches. Ordinarily this is needed to cover the fees of the Local Authority Search. If any down payment is payable against the purchase price then this will be required immediately ahead of exchange of contracts. Any further balance that is needed will be payable a couple of days prior to the day of completion.
My father pointed out to me me that in purchasing a property in Richmond Upon Thames there may be various restrictions preventing external changes to a property. Is this right?
There are anumerous of properties in Richmond Upon Thames which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Richmond Upon Thames should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Richmond Upon Thames conveyancer on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
TSB have agreed my mortgage in principle, my bid on a apartment in Richmond Upon Thames has been agreed to, what happens next?
The estate agent will wish to be informed of your solicitor's details (ensure that the solicitors are on the bank’s panel). Contact TSB or the broker and finish off any appropriate paperwork. TSB will instruct a valuer who will get in touch with the selling agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. TSB will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Richmond Upon Thames.
Are there restrictive covenants that are commonly identified as part of conveyancing in Richmond Upon Thames?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Richmond Upon Thames. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying my first flat in Richmond Upon Thames with a mortgage from TSB. The developers would not budge the price so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not disclose to my lawyer about this side-deal as it would jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
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.