My wife and I are purchasing a 2 bedroom apartment in Raynes Park with a mortgage. We like our Raynes Park solicitor, however the mortgage company advise he's not on their "panel". We have to appoint one of the bank panel firms or continue with our Raynes Park conveyancer as well as pay for one of their panel firms to act for them. We consider that this is inequitable; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Raynes Park conveyancing lawyer to apply to be on the conveyancing panel.
Our god-son is about to exchange on a house that has just been built in Raynes Park with a home loan from Nottingham. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nottingham conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What is the difference between a licensed conveyancer and conveyancing solicitor in Raynes Park
There are two types of lawyers who can execute conveyancing in Raynes Park namely CLC regulated conveyancers or solicitors. The two can provide the legal services that required to complete the disposal or acquisition of property. Both are required to conduct Raynes Park conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be professionally conducted and that the necessary procedures should be suitably followed.
I have today made my last payment due on my mortgage with Santander. I assume I don't need a Raynes Park property lawyer on the Santander panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Santander 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 Santander mortgage from the register. Santander, 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 Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
UBS have agreed my home loan in principle, my bid on a apartment in Raynes Park has been accepted, what are the next steps?
The estate agent will want to be advised as to your conveyancing practitioner's details (be sure the conveyancers are on the bank’s approved list). Contact UBS or your broker and finish off any appropriate paperwork. UBS will sellect a valuer who will get in touch with the selling agent or vendor to book a slot for the valuation to take place. Once carried out (assuming no problems) it takes about ten days to get a mortgage offer. UBS will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Raynes Park.
Should our lawyer be raising questions about flooding during the conveyancing in Raynes Park.
Flooding is a growing risk for lawyers conducting conveyancing in Raynes Park. There are those who acquire a house in Raynes Park, completely expectant that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, but there are a various checks that may be undertaken by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Raynes Park. The conventional set of completed inquiry forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to determine if the property has suffered from flooding. If the residence has been flooded in past and is not revealed by the seller, then a purchaser may commence a legal claim for losses as a result of such an misleading answer. A purchaser’s solicitors should also conduct an enviro search. This should indicate whether there is any known flood risk. If so, more detailed inquiries should be carried out.
Over the last few months I have been searching for a flat up to £305k and identified one round the corner in Raynes Park I like with open areas and railway links in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Raynes Park for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage that many years will be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
My husband and I are one month into a leasehold purchase having been directed to a firm by the high street agent to execute conveyancing in Raynes Park. I am not happy. Can you help me find new lawyers?
A conveyancer would have to be very bad to suggest diss instructing them. Has your loan offer been generated? If so you must advise them of the new conveyancer and ensure the loan are issued to the new lawyers. Your conveyancer should be on the mortgage company panel to avoid escalating costs and delays. That should be your first question of the new lawyers. Our find a solicitor tool will assist you in finding a bank approved solicitor for your conveyancing in Raynes Park