My husband and I are looking to buy a house in Kenley and have appointed a Kenley conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Britannia have this afternoon contacted us to advise us that there is now an issue as our Kenley solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Kenley solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
We were just about to exchange contracts for a freehold house in Kenley. We encountered a problem. Our mortgage offer with Nationwide Building Society expires on 16/9/2025 but the vendors are putting forward a completion date of 18/9/2025. Is it possible to extend the loan offer?
The best person to deal with your concern is your solicitors who will hopefully calculate whether he or she is better off negotiating with the lender, seller’s solicitors, estate agents or conceivably all three given what has happend in your conveyancing as of today.
Is there a search tool that I can utilise to discover of the solicitor conducting my conveyancing in Kenley is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for HSBC Bank thus paying £175.00 in additional conveyancing charges.
You should take advantage of the search tool on this site. Pick the mortgage company and type ‘Kenley’ or your location and you will be presented with a number of lawyer offices in Kenley or nearest you.
I am purchasing a new build house in Kenley with a loan from Lloyds TSB Bank. The sellers would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not disclose to my lawyer about the side-deal as it would impact my loan with Lloyds TSB 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.
I have been on the look out for a leasehold apartment up to £305k and identified one close by in Kenley I like with open areas and transport links nearby, however it only has 51 remaining years left on the lease. There is not much else in Kenley suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan that many years will be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
Is it best to use a Kenley conveyancing lawyer in close proximity to the house I am buying? I have an old university friend who can handle the legal work but his firm is located approximately 350miles drive away.
The benefit of a high street Kenley conveyancing firm is that you can visit the firm to execute documents, deliver your ID and pester them if necessary. They will also have local intelligence which is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and the majority were impressed that should outweigh using an unfamiliar Kenley conveyancing solicitor solely due to them being local.