I can't travel far from Covent Garden. What is the rationale as to why all Covent Garden lawyers are not on all lender panels?
As inequitable as it may seem for mortgage companies to limit who can act for them, from the public’s or lawyer’s perspective, the other side of the coin is that banks are becoming ever more anxious and feel it crucial to protect them against mortgage fraud. As a consequence of this concern mortgage companies are limiting their conveyancing panel to a manageable size.
My nephew is about to exchange on a newly built flat in Covent Garden with a mortgage from Clydesdale. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Clydesdale conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Clydesdale conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am selling my house. I had a double glazing fitted in May 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Principality are being a right pain. The Covent Garden solicitor who is on the Principality conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Principality are requiring a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality 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.
About to purchase apartment in Covent Garden. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Covent Garden lawyer is on the UBS conveyancing panel.
Nottingham have agreed my mortgage in principle, my offer on a apartment in Covent Garden has been accepted, what are the next steps?
Your estate agent will need to know who your solicitors are (ensure that the property lawyers are on the lender’s panel). Contact Nottingham or the broker and complete any outstanding documentation. Nottingham will instruct a valuer who will get in contact with the selling agent or seller to book an appointment. Once conducted (assuming no problems) it takes on average a week for the mortgage offer to be issued. Nottingham will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Covent Garden.
Just had an offer accepted on a new build apartment in Covent Garden. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Covent Garden
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There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I'm remortgaging my existing house to a BTL mortgage with Coventry Building Society and I will use the rest of the raised equity towards another house. The neighborhood we are talking about is Covent Garden. Will your solicitors be able to act for both sets of lenders and tie in the transactions?
Do use our comparison tool on this page to ensure that the conveyancers are on the relevant lender panels. Assuming that they are the lawyer should be able to connect the two deals but you should have a chat with you solicitor and make apparent your expectations and needs.
Are the Covent Garden conveyancing lawyers identified as being on the lender conveyancing panel, together with their details provided by the lender?
Covent Garden firms and firms carrying out conveyancing in Covent Garden themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the mortgage company directly.