The Twyford conveyancing firm handling our Twyford conveyancing has identified a difference when comparing the information in the valuation report and what is in the title deeds. My lawyer has advised that he is duty bound to ensure that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s stance appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I own a freehold residence in Twyford yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Twyford and has limited impact for conveyancing in Twyford but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
Can you point me to a directory of TSB panel conveyancers in Twyford on the Council of Mortgage Lender’s Website?
No. There is no such facility on the CML or Building Society Association websites. Very few mortgage companies make their panel listings open the public online. If you are seeking to appoint a Twyford lawyer on the TSB please use our facility.
We had chosen conveyancing lawyers locally in Twyford on the Co-operative solicitor approved list. They are now charging me an additional sum for the legal aspects of the Co-operative mortgage. Is this a supplemental conveyancing fee set by Co-operative?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your conveyancing practitioner can levy a fee for this. This fee is not set by Co-operative but by your Twyford property lawyer. Numerous firms on the Co-operative panel will charge an ‘acting for lender’ fee but some firms incorporate it on their overall fee.
I am buying a property in Twyford. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Santander be concerned?
As your lender is Santander your lawyer must check the conveyancing instructions set out in Section two of UK Finance Lenders’ Handbook for Santander. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and lawyers are required to report to Santander where a lease fails to comply with these provisions. The specifications relate to the installation of panels on properties in England and Wales and is not limited to Twyford.
Are there restrictive covenants that are commonly identified during conveyancing in Twyford?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Twyford. 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'm buying a new build house in Twyford benefiting from help to buy. The builders would not budge the amount so I negotiated £7000 of additionals instead. The estate agent advised me not to tell my conveyancer about this deal as it will adversely affect my mortgage with HSBC Bank. Should I keep quiet?.
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.