My solicitor has discovered a a problem with the lease for the apartment we are buying in Thames View. The other side have suggested defective title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer has advised that he must ensure that the bank is happy with this solution. Are we the client or is the lender?
Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the mortgage company are the client. The appropriate lender requirements have to be complied with.
I purchased a freehold residence in Thames View but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Thames View and has limited impact for conveyancing in Thames View but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Forgive me if this question is silly but I am new to the house moving as FTB of a two bedroom flat in Thames View. Do I collect the keys to the house on completion from my solicitor? If so, I will use a High Street conveyancing solicitor in Thames View?
On the day of completion you do not need to attend the conveyancers office in Thames View. Your solicitors will transfer the purchase money to the owner’s solicitors, and once they have received this, you will be invited to receive the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
We previously appointed conveyancers located in Thames View on the Santander solicitor panel. They have just billed me a supplemental sum for dealing with the Santander mortgage. Is this a supplemental conveyancing fee set by Santander?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your lawyer is entitled to charge a fee for this. This charge is not dictated by Santander but by your Thames View solicitor. Numerous firms on the Santander panel will quote an ‘acting for lender’ fee and others do not.
I have paid off my mortgage with Kent Reliance. I assume I don't need a Thames View conveyancing practitioner on the Kent Reliance panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Kent Reliance 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 Kent Reliance mortgage from the register. Kent Reliance, 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 Kent Reliance has sent the Land Registry the discharge electronically, and
- Kent Reliance has instructed the Land Registry to do so
What can a local search tell me concerning the property I am purchasing in Thames View?
Thames View conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for example Xpress Legal The local search is essential in every Thames View conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search should reveal data on, amongst other things, details on planning applications applicable to the property (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 thirteen topic headings.
I'm buying a new build house in Thames View with a loan from Coventry Building Society. The builders refused to reduce the amount so I negotiated £7000 of additionals instead. The sale representative suggested that I not reveal to my lawyer about this deal as it may affect my mortgage with Coventry Building Society. 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 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.
We have instructed a Thames View conveyancing solicitor for our home move (FTB’s) and have spotted in the terms and conditions that they are not governed by the Financial Conduct Authority. Am I right to be concerned or is that standard with conveyancing practitioner?
We can't see why they should be. Most conveyancer don't lend money. They will be governed by the SRA, who set stringent rules in place on funds deposited in their bank.