Unfortunately I am unable to travel far from Kingston Vale. Is there a reason why all Kingston Vale solicitors are not on all mortgage company panels?
Lenders ordinarily restrict either the type or the number of conveyancing practices on their panel. A common example of such restriction(s) being that the firm needs to have two or more partners. As well as restricting the type of firm, some have made a decision to limit the size of their panel they permit to represent them. You should note that banks have no liability for the accuracy of service supplied by any Kingston Vale conveyancer on their approved list. Property fraud was the key driver in the reduction of solicitor panels a few years ago notwithstanding that there are differing thoughts concerning the extent of solicitor involvement in some of that fraud. Data published by the Land Registry reveal that thousands of conveyancing firms only carry out a couple of conveyances annually. Those advocating conveyancing panel pruning question why conveyancing firms deserve any entitlement to remain on a lender panel when it is evident that property law is not their speciality?
The sellers of the property we are purchasing have instructed a conveyancing firm in Kingston Vale who has suggested a lock out agreement with a down payment 10k. Are such agreements sensible?
There are two main downsides with signing a lock out contract (sometimes termed a shut-out contract) is that it can distract from moving forward with the conveyancing transaction itself, so unless it requires little or no negotiation then it may turn out to be a hindrance. It is not strongly advocated amongst Kingston Vale conveyancing lawyers as a result. The other main issue is the extent of the remedies available - an aggrieved purchaser should not expect to be issued with injunctive relief to prohibit the vendor disposing of the property to an alternative purchaser, so the only remedy open via the agreement will be the reimbursement of abortive costs and, in limited scenarios, the extra payment of penalties.
My wife and I purchasing a victorian detached house in Kingston Vale. The intention is to carry out a loft conversion at the house.Will legal due diligence on the property include checks to see if these works are permitted?
Your conveyancer should check the registered title as conveyancing in Kingston Vale can occasionally reveal restrictions in the title documents which prohibit categories of alterations or require the consent of another owner. Some additions require local authority planning permissions and approval in accordance building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be sensible to check these things with a surveyor ahead of any purchase.
I have a mortgage with Santander for my property in Kingston Vale. Conveyancing has been completed 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Santander?
Your original mortgage agreement with Santander will provide that you need their approval prior to renting your property as this is likely to be a breach of Santander’s mortgage conditions. It may be that Santander 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 Santander directly. You need not do this via a Santander conveyancing panel lawyer.
I am selling my house. I had a double glazing fitted in June 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Coventry BS are being problematic. The Kingston Vale solicitor who is on the Coventry BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Should our lawyer be asking questions about flooding during the conveyancing in Kingston Vale.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Kingston Vale. Some people will purchase a house in Kingston Vale, fully aware that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, but there are a numerous checks that may be initiated by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Kingston Vale. The conventional set of information supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the owner to find out whether the premises has suffered from flooding. If the premises has been flooded in past and is not disclosed by the owner, then a buyer may commence a legal claim for losses as a result of such an inaccurate reply. The buyer’s conveyancers will also carry out an enviro report. This will reveal if there is any known flood risk. If so, additional inquiries should be made.
I'm purchasing my first flat in Kingston Vale with the aid of help to buy. The builders refused to budge the amount so I negotiated 6k of extras instead. The house builders rep suggested that I not disclose to my lawyer about the deal as it may jeopardize my mortgage with the lender. Should I keep quiet?.
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.
Me and my husband have recently had an offer agreed on a flat and had meeting on Wednesday with Leeds Building Society for the mortgage. They have informed us that when it comes to appointing a solicitor that if they are not on their approved panel of property lawyers then we will have to pay out an additional charge of £200. This is because they will then have to appoint a property lawyer to act for them as well as the one we appoint on our behalf and we assume responsibility for their costs. I have requested Leeds Building Society to provide me with a list so I can obtain quotes only from their approved lawyers but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?
Ask Leeds Building Society what their criteria for panel membership is for a conveyancer.Thereafter ask the conveyancer of your choice whether they fit that criteria and have they acted on mortgages for Leeds Building Society previously. If the answer to those is yes, then just clarify this with Leeds Building Society. Another option is to utilise our search tool and we should be able to identify a property lawyer in Kingston Vale on the approved list for Leeds Building Society.