My husband and I are planning to purchase a property in Redhill and have appointed a Redhill conveyancing practice. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Barclays have this morning contacted us to inform me that they have now hit a problem as our Redhill conveyancer is not on their approved list of lawyers. Is this a problem?
If you are buying a property with the assistance of a mortgage it is usual for the purchasers' solicitors to also represent the mortgage company. 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 mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Redhill lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
My fiance and I are refinancing our apartment in Redhill with Leeds Building Society. We have a son 18 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have two questions (1) Is this form unique to the Leeds Building Society conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Leeds Building Society. This is solely used to protect Leeds Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Leeds Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Is there a list of Aldermore panel solicitors in Redhill on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. A small selection of banks make their panel listings open the public on the web. Where you are in need of a Redhill solicitor on the Aldermore please make the most of our tool.
We have agreed to purchase a house in Redhill. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Santander be concerned?
As you are obtaining a mortgage with Santander your lawyer must check the formal instructions contained in Section 2 of UK Finance Lenders’ Handbook for Santander. The CML Handbook stipulates minimum provisions for solar panel roof-space leases, and lawyers are required to report to Santander where a lease does not satisfy these provisions. The specifications relate to the installation of panels on properties countrywide and is not restricted to Redhill.
About to purchase maisonette in Redhill. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Redhill solicitor is on the Lloyds conveyancing panel.
I need some expedited conveyancing in Redhill as I am under pressure to exchange contracts in less than 3 weeks. Fortunately I do not require a mortgage. Is it possible to escape the need for conveyancing searches to save money and time?
As you are are a mortgage free buyer you have the choice not to do searches although no conveyancer would recommend that you don't. With lots of history conveyancing in Redhill the following are examples of what can arise and adversely impact market value: Refused Planning Applications, Overdue Fees, Outstanding Grants, Unadopted Roads,...
I'm buying my first flat in Redhill benefiting from help to buy. The developers would not budge the amount so I negotiated 6k of extras instead. The house builders rep suggested that I not to tell my solicitor about this side-deal as it would affect my loan with the bank. Do I keep my lawyer in the dark?.
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.
My company is hoping to lease a unit on a shopping parade. Can you recommend solicitors offering competitive charges for non-domestic conveyancing in Redhill for under £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Redhill, including the sale and acquisition of businesses as well as simply premises. Whether you are hoping to acquire or sell a shop, pub, restaurant, office, retail premises or a complete business we will find you the right firm. Regarding the charges these will vary based on the structure and heads of terms of the deal. Please provide us with your details or email us so that we may supply you with a detailed commercial conveyancing quote.