Me and my fiance are hoping to purchase a 3 bedroom apartment in Gravesend with a mortgage. We wish to retain our Gravesend conveyancer, however the mortgage company advise he's not on their "panel". We have to appoint one of the lender panel solicitors or retain our Gravesend solicitor and pay for one of their panel lawyers to represent them. This seems very unfair; are we not able to insist that the lender use our Gravesend solicitor ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Gravesend conveyancing solicitor to apply to be on the conveyancing panel.
My grandson is about to exchange on a house that has just been built in Gravesend with a home loan from TSB. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the TSB 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 TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My fiance and I are purchasing a purpose built apartment in Gravesend with a homeloan from National Westminster Bank.We have a Gravesend conveyancing practitioner but National Westminster Bank informed us his firm is not on their approved list of member firms. It seems we are left with no choice but to instruct a National Westminster Bank panel firm or retain our local solicitor and fork out for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan issued to you is subject to its various provisions, one of which will be that solicitors must be on the National Westminster Bank conveyancing panel. in the past, most lenders had large numbers of solicitors on their panels: a borrower could find 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for National Westminster Bank
My stepmother advised me that in buying a property in Gravesend there could be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?
There are anumerous of properties in Gravesend which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Gravesend should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have a mortgage with Lloyds for my property in Gravesend. Conveyancing was finalised some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Lloyds?
Lloyds must be informed of your intention before letting out your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds will permit you to let 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 Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel firm.
I was told four weeks ago that my mortgage has been agreed to by Lloyds. Is it usual for Lloyds to only issue the offer once my solicitor in Gravesend is approved on their conveyancing panel? Lloyds have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
Just had an offer accepted on a new build apartment in Gravesend. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Gravesend
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are architect prepared.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one close by in Gravesend I like with open areas and station in the vicinity, however it's only got 52 years on the lease. There is not much else in Gravesend for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan that many years may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.