I was notified recently by my IFA that my Swindon solicitor is not on the bank Conveyancing panel. What can I do to check?
Your first step should be to call your Swindon lawyer directly. It is reasonable to expect your lawyer to notify you of the situation. Where they are not on the panel they may recommend you to a Swindon conveyancing practice that is on the conveyancing panel for your mortgage company.
My wife and I are purchasing a new build apartment in Swindon and my lawyer is telling me that she has to the mortgage company to reveal incentives from the developer. I am nearing the developer’s deadline to exchange and I would rather not prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is there a reason why leasehold purchase conveyancing in Swindon costs more?
The conveyancing costs on a leasehold premises in Swindon is often greater than on a freehold residence. This is due to the extra work necessary in corresponding with the freeholder and managing agents to collate the evidence about whether the rent and maintenance charges have been paid and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
I just acquired a house at auction in Swindon. Conveyancing is necessary. What are my next steps?
Given that you are now exchanged you now have to hire the services of a conveyancing lawyer quickly as you now have a fast approaching a fixed date to complete the purchase. All auction property should have a corresponding auction pack. This should include most,if not all of the paperwork that your conveyancer requires. If you have purchased leasehold premises the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You need to pass this on to your appointed conveyancing solicitor ASAP. Do make sure that that you have the requisite funding in place to complete on the date specified in the contract.
I have today made my last payment due on my mortgage with RBS. I assume I don't need a Swindon solicitor on the RBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS 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 RBS mortgage from the register. RBS, 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 RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
Planning on purchasing a flat in Swindon. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS 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 Swindon conveyancing practitioner is on the RBS conveyancing panel.
I'm purchasing a new build house in Swindon benefiting from help to buy. The sellers would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not reveal to my conveyancer about this deal as it would jeopardize my mortgage with the bank. 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.