A loan agreement from Santander for the remortgage of my single room flat is to be issued by the end of next week. Can you propose a low cost conveyancing law firm in West Drayton?
You are on the wrong site if you are seeking a cheap conveyancing in West Drayton. We can offer you excellent value conveyancing but we do not aim to advertise as being the cheapest. Do not be seduced by organisations offering ninety nine pound conveyancing in West Drayton. In your best case scenario, in being led by cheap conveyancing, you will get your money’s worth and at worst you will end up being stung for extras and still not end up with the service required.
We are getting closer to an exchange on a flat in West Drayton and my mum and dad have sent the ten percent deposit to my property lawyer. I am now informed that as the deposit has been sent from someone other than me my conveyancer needs to make a notification to my lender. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I informed the bank concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancing practitioner is duty bound to check with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I have been recommended a conveyancing solicitor in West Drayton. I need to find out whether they are on the Bank of Ireland conveyancing panel. Could you advise?
You should e-mail your conveyancer and enquire whether they are on the lender panel. Otherwise you can call Bank of Ireland who may be able to confirm.
We had appointed conveyancers located in West Drayton on the Skipton solicitor approved list. They have just billed me an additional amount for handling the Skipton mortgage. Is this a supplemental conveyancing fee set by Skipton?
Provided it is contained in their Terms of Engagement or Quote then yes your property lawyer can charge a fee for this. This fee is not dictated by Skipton but by your West Drayton conveyancing practitioner. Numerous firms on the Skipton panel will charge ’dealing with mortgage’ fee but many practices incorporate it on their overall fee.
I currently have a mortgage with Co-operative for my property in West Drayton. Conveyancing was finalised a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Co-operative?
You must advise Co-operative in advance of letting out your property as this is likely to be a breach of Co-operative’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Co-operative directly. It should not be necessary to do this via a Co-operative conveyancing panel solicitor.
The formalities of my remortgage has taken place for my property in West Drayton. Conveyancing was a necessary evil but I would like to complain about the lender. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I am purchasing my first flat in West Drayton with a loan from Leeds Building Society. The builders would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not disclose to my lawyer about the deal as it will adversely affect my mortgage with the 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.