My fiance and I wish to acquire a newly converted apartment in Shenley with a mortgage from HSBC Bank.We have a Shenley conveyancing lawyer but HSBC Bank advised that her practice is not listed on their "panel". we are left little option but to use a HSBC Bank panel lawyer or keep our preferred solicitor and fork out for a HSBC Bank panel lawyer to act for them. This seems very unfair; Can we not simply insist that HSBC Bank use our lawyer?
Unfortunately,no. The home loan offered to you is subject to its various provisions, one of which will be that solicitors must be on the HSBC Bank solicitor panel. Until recently, most mortgage companies 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 solicitors to apply to be on the conveyancing panel for HSBC Bank
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Shenley. Do I receive the keys to the premises on the completion date from my conveyancer? If this is the case, I will instruct a High Street conveyancing solicitor in Shenley?
On the day of completion you do not need to attend the conveyancers office in Shenley. Your solicitors will arrange to send the purchase money to the seller's conveyancers, and once they have received this, you will be invited to collect the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
I have today made my last payment due on my mortgage with Santander. I assume I don't need a Shenley lawyer on the Santander panel to remove 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
It is unclear whether my mortgage offer requires a lease extension. I have called into my local Shenley building society branch on a couple of occasions and was told it does not impact the mortgage offer and they would lend. My Shenley conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend based on their published requirements. I simply don't know who is right.
Provided that the conveyancer is on the lender panel, she or he must comply with the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
What can a local search reveal regarding the house we're buying in Shenley?
Shenley conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company for instance Onsearch The local search plays a central part in many a Shenley conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your new home. The search should reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
I have a renovated Victorian house in Shenley. Conveyancing lawyer represented me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Shenley 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 mortgage companies. You can also check the situation with the conveyancing practitioner who completed the work.
I'm purchasing my first flat in Shenley with a mortgage from Virgin Money. The sellers refused to reduce the amount so I negotiated £7000 of additionals instead. The estate agent advised me not reveal to my conveyancer about this deal as it will affect 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.
My business partner and I are looking to take over a lease of a shop on the high street. Can you recommend conveyancers offering fixed fees for commercial conveyancing in Shenley for below £2000?
We can recommend firms who host a wealth of experience of commercial conveyancing in Shenley, including the disposal and purchase of businesses as well as simply premises. Whether you are hoping to acquire or sell a shop, pub, restaurant, office, retail unit or a whole business we can find you the right firm. Regarding the charges these will vary based on the structure and heads of terms of the deal. Let us have your contact information or telephone us so that we can furnish you with a detailed commercial conveyancing calculation.