My fiance and I are planning to acquire a home in Stanstead Abbotts and are in fact using a Stanstead Abbotts conveyancing practice. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Leeds Building Society have this afternoon contacted us to advise us that they have now hit a problem as our Stanstead Abbotts conveyancer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is standard 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 Quality 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 solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Stanstead Abbotts solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Our son is about to exchange on a new build apartment in Stanstead Abbotts with a mortgage from Coventry BS. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
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 asked. 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.
It is is a decade since I bought my home in Stanstead Abbotts. Conveyancing lawyers have just been retained on the sale but I am unable to track down my title documents. Will this cause complications?
Don’t worry too much. First the deeds may be kept by your mortgage company or they may still be with the conveyancers who oversaw your purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. Most conveyancing in Stanstead Abbotts relates to registered property but in the rare situation where your home is unregistered it adds to the complexity but is resolvable.
I am the only recipient of my late father’s estate with all property in now in my sole name, including the my former home in Stanstead Abbotts. The Stanstead Abbotts property was put into my name in March. I plan to dispose of the property. I do know about the CML six month 'rule', meaning my proprietorship may be considered the same way as though I had purchased the property in March. Is the property unsalable for six months?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Some lenders would take a sensible view as this clause is chiefly there to identify the purchase and immediately sell or the quick reselling of property.
I have today made my last payment due on my mortgage with TSB. I assume I don't need a Stanstead Abbotts solicitor on the TSB panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your TSB 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 TSB mortgage from the register. TSB, 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 TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Stanstead Abbotts. I have a mortgage offer with RBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
I am buying a new build apartment in Stanstead Abbotts. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Stanstead Abbotts
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan.
My step-father has recommend that I use his lawyers for conveyancing in Stanstead Abbotts. Do I follow his recommendation?
There are no two ways about it the ideal way to select a conveyancing solicitor is to get referrals from friends or family who have used the solicitor that you are are thinking of instructing.