We are only a couple days away from an exchange on a house in Kent and my mum and dad have transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my lender. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I advised the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your conveyancing practitioner is obliged to check with the bank to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Is there a reason why leasehold purchase conveyancing in Kent costs more?
Kent leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I had intended to instruct a property lawyer in Kent for our home move. Our financial adviser has since advised us that our mortgage company Platform Home Loans Ltd won't deal with them. Why is this not regarded as unfair competition?
A decade ago most mortgage companies had an appetite for risk which was higher than today. Almost all Kent conveyancing firms would have been on many bank 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 regarding their operations and the individuals who work for them as well as establishing certain criteria such a completing on a minimum amount of conveyancing. Many Kent conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Kent is amongst the hundreds of areas where the solicitors we list are are authorised to act for Platform Home Loans Ltd.
I am buying my first flat in Kent with the aid of help to buy. The developers refused to reduce the price so I negotiated 6k of additionals instead. The estate agent advised me not to tell my lawyer about this side-deal as it would adversely affect my mortgage with the bank. Is this normal?.
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 am thinking of appointing a conveyancing solicitor in Kent for my sale. Is it possible to review a solicitor's complaints history with the profession’s regulator?
One can see documented Solicitor Regulator Association (SRA) determinations resulting from investigations from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The SRA may recorded call for training reasons.
My wife and I have recently appointed a conveyancing solicitor in Kent. I need to find out if they are listed on the bank's conveyancing panel. Could you assist?
One option is to contact the lawyer to enquire if they are on the bank's approved list. If that does not help get in touch with us and we can investigate and revert. If they are not on the lender panel we we can help find a quality conveyancing solicitor in Kent on the panel for your lender.