Me and my husband are buying a ground floor flat in St Mary Cray. My property lawyer has never been on on the bank solicitor list. Can I still continue with my St Mary Cray conveyancing solicitor notwithstanding that they are excluded from the lender panel?
Various options include
- Complete the deal with your existing St Mary Cray solicitor but your mortgage company will need to retain a conveyancer on their approved list. This will result in additional cost together with probable frustration.
- Choose a new solicitor to act in the purchase, obviously checking they are on the bank conveyancing panel.
- Convince your conveyancing practitioner to pull out all the stops to get listed on the lender’s panel of solicitors
My nephew is about to exchange on a new build apartment in St Mary Cray with a home loan from Coventry BS. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Coventry BS conveyancing panel as a standard part of the process, and to the valuer 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 Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are looking to buy a flat and require a conveyancing solicitor in St Mary Cray who is on the Principality solicitor panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Principality . We don't recommend any particular firms conducting conveyancing in St Mary Cray.
I purchased a semi-detached Victorian property in St Mary Cray. Conveyancing solicitor acted for me and The Mortgage Works. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the exact same address. I'd like to know for sure, how can I find out??
You should review 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 St Mary Cray and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with the conveyancing practitioner who conducted the purchase.
I am buying a new build house in St Mary Cray benefiting from help to buy. The builders would not budge the amount so I negotiated 6k of additionals instead. The property agent told me not disclose to my solicitor about this extras as it may affect my mortgage 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 UK Finance website. UK Finance 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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. St Mary Cray is where the house is located. What do you suggest?
Flying freeholds in St Mary Cray are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside St Mary Cray you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Mary Cray may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.