My partner and I are acquiring a newly built apartment in Anerley and my conveyancer is informing me that she is duty bound to the lender to disclose incentives from the developer. I am under pressure to exchange contracts and I don't want to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I have been referred to a conveyancing solicitor in Anerley. I I would like to check whether they are accepted on the Virgin Money conveyancing panel. Could you or the lender confirm if they are on the panel?
The first thing you should do is e-mail your solicitor and ask them whether they are on the lender panel. Otherwise you can get in touch with Virgin Money who may be able to confirm.
Can you point me to a directory of Virgin Money panel conveyancers in Anerley on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. Very few lending institutions make their panel listings viewable over the internet. If you are in need of a Anerley conveyancer on the Virgin Money please use our tool.
I have today made my last payment due on my mortgage with Bank of Ireland. I assume I don't need a Anerley conveyancer on the Bank of Ireland panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I am due to exchange contracts on my house. I had a double glazing fitted in June 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Virgin Money are being pedantic. The Anerley solicitor who is on the Virgin Money conveyancing panel is saying indemnity insurance will be fine but Virgin Money are insisting on a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Are there restrictive covenants that are commonly picked up during conveyancing in Anerley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Anerley. 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 am looking for a flat up to £305k and identified one round the corner in Anerley I like with a park and transport links nearby, however it only has 51 remaining years left on the lease. There is not much else in Anerley suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
Do I have to have a meeting at the offices of the mortgage company conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Anerley as it will be easier to pop in to their offices if necessary.
As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Anerley.