My partner and I are purchasing a newly constructed flat in West Moors and my solicitor is telling me that she is duty bound to the lender to disclose incentives from the developer. I am under pressure to sign contracts and I don't want to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My grandmother passed away 10 months ago and as sole heir and executor I was left the property in West Moors. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Kent Reliance, pay off the mortgage. Is this allowed?
Given you plan to refinance then Kent Reliance will require that you use a conveyancer on the Kent Reliance conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Kent Reliance conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Kent Reliance mortgage is registered as a charge at the Land Registry.
Two weeks ago we had a mortgage agreed in principle with UBS. West Moors conveyancing solicitors are selected. How long does it take for UBS to issue the offer to the conveyancer?
Some lenders take longer than others. Have UBS done the valuation? Have you advised UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
It is not clear whether my mortgage offer requires a lease extension. I have called into my local West Moors bank branch on numerous occasions and was told they are content with the situation and they will lend. My West Moors conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your lawyer must comply with the CML Handbook section two requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
After much negotiation I have agreed a price on a house in West Moors. My mortgage broker suggested a lawyer. I paid an advanced payment of £175. Shortly after, the property lawyer called me embarrassingly acknowledging that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am close to exchanging contracts on the sale of our property in West Moors and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local conveyancer would know this is not the case. For the life of me I don't know why the buyers are using a nationwide conveyancing outfit as opposed to a conveyancing solicitor in West Moors. Having lived in West Moors for many years we know of no issue. Do we get in touch with our local Authority to obtain clarification that the buyers are looking for.
It would appear that you have a conveyancing firm already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I am looking for a ground for flat up to £305k and identified one close by in West Moors I like with open areas and transport links in the vicinity, the downside is that it's only got 51 remaining years left on the lease. There is not much else in West Moors in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan the shortness of the lease will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.