My wife and I are planning to buy a flat in Teddington and are in fact using a Teddington conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Leeds Building Society have this evening contacted us to inform me that they have now hit a problem as our Teddington lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also act for 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 Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Teddington solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Finally the sale completed on my house in Teddington last November yet the purchaser is telephoning every few hours to moan that their lawyer needs to hear from myconveyancer. What should my lawyer have done now that I have sold?
After completion of your sale your solicitor should forward the transfer deeds and all supplemental paperwork to the buyer’s conveyancer. If applicable, your conveyancer should also confirm that the home loan has been redeemed to the purchasers lawyers. There is unlikely to be post completion requirements specific conveyancing in Teddington.
I am buying my first flat in Teddington with a loan from TSB. The developers would not budge the price so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not to tell my solicitor about the extras as it may put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
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 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.
Given that I will soon spend hundreds of thousands of pounds on a two bedroom apartment in Teddington I wish to have a conversation with the conveyancer regarding thehouse move in advance of instructing the firm. Can this be arranged?
We could not agree more - we would be happy to talk to you we do not take any clients on without you speaking to the lawyer due to be carrying out your conveyancing in Teddington.There is no ‘factory style conveyancing’ - each client is unique person, not a matter reference. The solicitors that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Teddington should be the figure that you end up paying.
My father has suggested that I use his conveyancing solicitors in Teddington. Should I use them?
Much as we are happy to recommend a Teddington conveyancing lawyer it’s preferable to select a conveyancing practitioner is to have feedback from friends or relatives who have actually used the solicitor you're contemplating using.
There are a number of properties in Teddington on private roads. I am acquiring such a house. What are the advantages and disadvantages of purchasing a house on a privately owned road?
Teddington conveyancing lawyers will be used to conveyancing homeson private. The lawyer will investigate title to find any rights or liabilities. It is possible that there is a residents association that proprietors make annual payments for the upkeep of the road. If one exists, the road should be maintained and appear better than publicly owned.