My wife and I are hoping to purchase a property in Tilbury and have appointed a Tilbury conveyancing practice. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Platform Home Loans Ltd have this morning contacted us to inform me that they have now hit a problem as our Tilbury conveyancer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Tilbury solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
I'm buying a new build house in Tilbury with the aid of help to buy. The developers refused to budge the amount so I negotiated 6k of additionals instead. The house builders rep suggested that I not reveal to my solicitor about the side-deal as it may affect 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.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what should have been a quick, chain free conveyancing. Tilbury is the location of the property. What do you suggest?
Flying freeholds in Tilbury are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Tilbury you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tilbury may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am 3 weeks into a residential purchase having been directed to a firm by the estate agent to perform conveyancing in Tilbury. We are not happy. Can you you assist me in finding new lawyers?
A conveyancer would have to be really poor in order to consider replacing them. Has your loan offer been generated? If so you must advise them of the new contact details and get the mortgage documents are issued to the new lawyers. Your new conveyancer needs to be on the mortgage company panel to avoid added charges and frustration. That should be your first question of the new conveyancers. The find a solicitor tool can assist you in finding a lender approved solicitor for your home move in Tilbury
My parents cant seem to find their Tilbury property on the HM Land Registry site. They have a vague recollection back in the 70’s when they bought the bungalow there were complications with the address not being recognised in some systems.
Almost all premises in Tilbury should appear. Have you tried a search with just the postcode. Ordinarily it will reveal all the properties inside that postcode. Where registered it will show up with a title number. If they bought fifty years ago it's conceivable it may be unrecorded. The property might still be revealed but with the title number identified as 'na'. In this scenario you will need to locate the original title papers which may be with your parent’s mortgage company.