My partner and I are buying a newly built flat in Selsdon and my conveyancer is informing me that she has to the lender to reveal incentives from the builder. I am nearing the developer’s deadline to sign contracts and my preference is not to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would prefer to instruct a high street conveyancing solicitor in Selsdon?
Do check but the the probability is that give you one of their panel solicitors if you take up the "fee-free" offer. Speak to the bank to see if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor in Selsdon.
When it comes to lenders such as Virgin Money, do Selsdon conveyancers incur a yearly amount to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
We previously instructed solicitors based in Selsdon on the Clydesdale solicitor approved list. They have just invoiced me an additional sum for the legal aspects of the Clydesdale mortgage. Is this a supplemental conveyancing fee specified by Clydesdale?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your property lawyer is entitled to levy a fee for this. This fee is not set by Clydesdale but by your Selsdon conveyancing practitioner. Some firms on the Clydesdale panel will quote ’dealing with mortgage’ fee but some firms include it on their overall fee.
Completion of my remortgage has taken place for my property in Selsdon. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Over the last few months I have been searching for a flat up to £305k and identified one close by in Selsdon I like with amenity areas and railway links nearby, however it's only got 61 years unexpired on the lease. There is not much else in Selsdon suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan that many years may be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
How do I use the search app to choose a conveyancing solicitor in Selsdon on the authorised to act for my bank?
Step one is to pick a lender such as Halifax, Barnsley Building Society or Nottingham Building Society then specify your location e.g. Selsdon. Conveyancing firms in Selsdon and across England and Wales will then be identified.