My husband and I are purchasing a flat in Rushden. My Conveyancer is not on the bank approved panel. Can I still continue with my Rushden conveyancing solicitor notwithstanding that they are excluded from the lender panel of approved conveyancing solicitors?
One will need to appoint a conveyancer to complete the legal work required if you require a loan to buy your property. The lawyer will carry out all the necessary investigations on the property, ensuring that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is dealt with. One could instruct a Rushden property lawyer of your choosing. However, where the solicitor appointed is not a member of the mortgage company conveyancing panel supplemental costs will be incurred as separate legal representation will be required by them. Lender panel applications may be submitted, so if your conveyancer has not in the past applied for membership they can do so.
We are selling our apartment in Rushden. Will my property lawyer have to be on the Kent Reliance conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
Forgive me if this question is silly but I am unexperienced as FTB of a two bedroom flat in Rushden. Do I pick up the keys to the premises on completion from my solicitor? If so, I will instruct a local conveyancing solicitor in Rushden?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the vendor’s conveyancers, and shortly after the monies have arrived, you will be called to receive the keys from the Estate Agents and start moving into the property. Usually this happens early afternoon.
Last month we had a mortgage agreed in principle with Virgin Money. Rushden conveyancing solicitors were chosen. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
Some lenders take longer than others. Have Virgin Money conducted the valuation? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am purchasing a property in Rushden. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Lloyds be concerned?
As your lender is Lloyds your lawyer must comply with the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Lloyds. The Council of Mortgage Lenders’ Handbook includes minimum specifications for solar panel roof-space leases, and property lawyers are required to report to Lloyds where a lease does not meet these requirements. The specifications relate to the installation of panels on properties nationwide and is not limited to Rushden.
I am buying a new build house in Rushden with a loan from Norwich and Peterborough Building Society. The builders would not move on the price so I negotiated £7000 of additionals instead. The estate agent suggested that I not to tell my lawyer about the extras as it could jeopardize my loan with the lender. Should I keep quiet?.
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'm converting the mortgage on my existing property to a BTL loan with Platform Home Loans Ltd and intend to use the remaining equity towards further house. The neighborhood we are looking at is Rushden. Will your solicitors be able to act for the two banks and link together the transactions?
Do use our comparison tool on this page to check that the solicitors are on the relevant lender panels. Having checked that they are the conveyancer should be able to simultaneously deal with the two deals but you should talk with you lawyer and make clear your desired outcome and requirements.
I am purchasing a house with all finances in place. My conveyancer has been handed with 2 separate evidence of photo ID, bank statement, multiple utility bills. Now he needs a copy from a probate lawyer advising that the money is in order and that it has come from inheritance and not via illegitimate means.
In today’s world you will not be able to complete any Rushden conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Establishing of your source of funds is required under Money Laundering Regulations.