My partner and I are buying our first home. The lawyer has e-mailedto check if we would like to order supplemental conveyancing searches. We are really unsure what's appropriate for conveyancing in Romney
The type of Romney conveyancing searches should be triggered based primarily on the premises, the location, the likelihood of any of these risks, your knowledge of the region and risks, your general appetite to risk. What matters is that you adequately comprehend what information the searches could supply. You may then make a decision if you consider that you need that search. If in doubt, ask your conveyancer to recommend.
Completed the sale of my flat in Romney last April but the buyer keeps telephoning every few hours to moan that his conveyancer is waiting to hear from myconveyancer. What should have happened now that I have sold?
Following your house sale your solicitor should send the transfer deeds and all of the paperwork to the purchaser's lawyers. Depending on the transaction, your conveyancer must also send confirmation that the home loan has been discharged to the purchasers conveyancers. There is unlikely to be post completion formalities peculiar conveyancing in Romney.
Please explain the implications if my solicitor is removed from the Yorkshire BS Solicitor panel ahead of completing my conveyancing in Romney?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My husband and I have arranged the release of further monies on our home loan from Kent Reliance as we intend to conduct alterations to our home in Romney. Do we need to appoint a local Romney solicitor on the Kent Reliance conveyancing panel to handle the legals?
Kent Reliance do not ordinarily require firms on 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 Kent Reliance list.
I have today made my last payment due on my mortgage with Yorkshire BS. I assume I don't need a Romney solicitor on the Yorkshire BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Yorkshire BS 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 Yorkshire BS mortgage from the register. Yorkshire BS, 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 Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
At last I have had an offer on an apartment in Romney agreed to, the sellers do nevertheless have a tied purchase. The owners have offered on a flat, however it’s not yet tied up, and have viewings of other properties in the pipeline. I have selected a nearby conveyancing solicitor in Romney. What do I do now? At what point should I apply for the mortgage with Leeds Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to incur costs too early (home loan application is in the region of £1k, then survey, Romney conveyancing search costs, etc). The first course of action is to check that your conveyancing practitioner is on the Leeds Building Society conveyancing panel. Concerning the next phase this very much depends on the circumstances of your transaction, attraction to the property and on the state of the market. In a buoyant market many home buyers will apply for the mortgage with Leeds Building Society and arrange for the valuation and only if it comes back ok would they request their solicitor to press on with searches.
I'm buying my first flat in Romney with a mortgage from Coventry Building Society. The sellers refused to budge the amount so I negotiated 6k of additionals instead. The estate agent advised me not disclose to my lawyer about the deal as it would put at risk my loan with the bank. 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.