My husband and I are buying a maisonette in Kingston upon Thames. My Conveyancer has never been on on the bank conveyancing panel. Is it possible for me to appoint my Kingston upon Thames conveyancing solicitor notwithstanding that they are excluded from the bank panel?
You have a couple of options open to you here
- Complete the deal with your preferred Kingston upon Thames solicitor but your mortgage company will need to retain a lawyer on their approved panel. The net result is additional fees together with probable delay.
- Get a fresh solicitor to act in the purchase, obviously checking they are on the mortgage company conveyancing panel.
- Appeal to your solicitor to apply to join the mortgage company panel
My husband and I are acquiring a brand new duplex in Kingston upon Thames and my solicitor is advising me that she has to the lender to disclose incentives from the builder. The Estate Agents are hassling me to exchange contracts and I would rather not delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
This question may be naive but I am unexperienced as a first time buyer of a garden flat in Kingston upon Thames. Do I receive the keys to the premises on the completion date from my solicitor? If this is the case, I will instruct a local conveyancing solicitor in Kingston upon Thames?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the owner’s lawyers, and shortly after the monies have arrived, you should be invited to pick up the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
I'm at the point of looking at flats in Kingston upon Thames and I am about to put in an offer. Is it sensible to have my property lawyer on ‘stand by’? I intend to finance via a home loan with Yorkshire BS.
It would be advisable to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. Given that you are seeking a mortgage with Yorkshire BS, make sure you remember to check that your lawyer is on the Yorkshire BS conveyancing panel.
Virgin Money have agreed my mortgage in principle, my bid on a property in Kingston upon Thames has been accepted, what happens next?
The property agent will want to know who your solicitors are (ensure that the property lawyers are on the lender’s panel). Telephone Virgin Money or the broker and complete any relevant documentation. Virgin Money will appoint a valuer who will get in contact with the estate agent or seller to schedule a slot for the valuation to happen. Once conducted (assuming no problems) it takes about ten days to receive the mortgage offer. Virgin Money will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Kingston upon Thames.
Me and my brother have a renovated Victorian house in Kingston upon Thames. Conveyancing practitioner acted for me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Kingston upon Thames and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing lawyer who conducted the work.
I am buying my first flat in Kingston upon Thames with a mortgage from HSBC Bank. The builders refused to budge the amount so I negotiated £7000 of extras instead. The sale representative told me not reveal to my conveyancer about this extras as it will adversely affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Been reading online that Kingston upon Thames solicitors are more expensive than licensed conveyancers in Kingston upon Thames when it comes to buying a property. So is it better if I use a conveyancer or a solicitor where I am buying a property in Kingston upon Thames.
When it comes to conveyancing in Kingston upon Thames the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.