I had intended to instruct a property lawyer in Henfield for our house move. Our financial adviser informed us that our mortgage company Bank of Scotland won't deal with them. Surely this is unduly restrictive?
Before the recession most mortgage companies had a different appetite for risk. Almost all Henfield conveyancing firms would have been on many mortgage company panels. The financial services regulator in 2010 completed a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more data from law firms concerning their operations and their employees as well as establishing certain criteria such a completing on a minimum volume of conveyancing. Many Henfield conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Henfield is one of the many locations where the solicitors showing on our search results are are approved Bank of Scotland.
Can I be sure that the Henfield conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Henfield getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer handling your transaction.
I have paid off my mortgage with Virgin Money. I assume I don't need a Henfield lawyer on the Virgin Money panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money 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 Virgin Money mortgage from the register. Virgin Money, 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 Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
The mortgage over my property is with Coventry BS for my property in Henfield. Conveyancing was finalised months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Coventry BS?
Your original mortgage agreement with Coventry BS will provide that you need their approval before letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. It may be that Coventry BS will allow you to rent 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 Coventry BS directly. You need not do this via a Coventry BS conveyancing panel solicitor.
I'm buying my first flat in Henfield benefiting from help to buy. The developers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not disclose to my conveyancer about the extras as it could jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
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 CML website. CML 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.
Due to the guidance of my in-laws I had a survey completed on a property in Henfield prior to appointing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some lenders tend refuse to give a mortgage on a flying freehold house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Henfield. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Henfield to see if the conveyancing costs will increase in light of this.
I need to instruct a conveyancing lawyer in Henfield for my remortgage. Can I see a firm’s complaints history with the profession’s regulator?
One may review documented Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The regulator may monitor telephone calls for training purposes.
I am on look out for some leasehold conveyancing in Henfield. Before I get started I require certainty as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Henfield - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Henfield Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
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What prohibitions are contained in the Henfield Lease? How many years are left on the lease? How much is the annual service fee and ground rent?