My husband and I are planning to acquire a 3 bedroom flat in Gerrards Cross with a mortgage. We would like to retain our Gerrards Cross conveyancer, however the bank says he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Gerrards Cross conveyancing practitioner as well as pay for one of their panel ones to represent them. We consider that this is inequitable; are we not able to insist that the bank use our Gerrards Cross lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Gerrards Cross conveyancing lawyer to apply to be on the conveyancing panel.
My partner and I intend to remortgage our apartment in Gerrards Cross with RBS. We have a son 19 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have two questions (1) Is this form unique to the RBS conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
First, rest assured that your RBS conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to RBS. This is solely used to protect RBS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of RBS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Our lender has recommended solicitors on their panel based in Gerrards Cross but I would rather use a conveyancing lawyer in Gerrards Cross or nearer to where I live. Are you able to assist?
Not all Gerrards Cross conveyancing practitioners are listed all lender’s conveyancing panel. Do make the most of the above find an approved solicitor tool to identify a Gerrards Cross conveyancing solicitor on the on the mortgage company panel.
Just bought a terraced house in Gerrards Cross , how long should it take for the Land Registry to deal with the formalities evidencing the transfer to my name? My Gerrards Cross conveyancing solicitor has been very slow, so I want to check the land registry aspects are dealt with.
There is nothing unique about conveyancing in Gerrards Cross registration formalities. As opposed to being determined by geographic area, timeframes can differ depending on the party submitting the application, whether there are errors and if the Land registry communicate with any interested persons or bodies. As of today in the region of 80% of submission are fully addressed in less than three weeks but occasionally there can be extensive hold-ups. Registration occurs once the new owner has moved in to the property so an expedited registration is not always primary concern yet if there is a degree of urgency associated with the registration then you or your lawyers could contact the land registry and explain the circumstances.
I am buying a new build house in Gerrards Cross with a mortgage from Lloyds TSB Bank. The builders refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The property agent advised me not inform my solicitor about the side-deal as it could jeopardize my loan with the lender. 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 UK Finance website. UK Finance 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Gerrards Cross is where the house is located. Is there any guidance you can impart?
Flying freeholds in Gerrards Cross are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Gerrards Cross you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Gerrards Cross may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.