My flat in Bermondsey is up for sale and I have a buyer. Will my lawyer have to be required to be on the Coventry BS conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I have recentlydiscovered that Action Conveyancing have been shut down. They carried out my conveyancing in Bermondsey for a purchase of a leasehold flat 18 months ago. How can I check that my home is in my name in the name of the former proprietor?
The quickest way to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bermondsey conveyancing specialists.
I am buying my first flat in Bermondsey benefiting from help to buy. The sellers refused to move on the amount so I negotiated £7000 of additionals instead. The estate agent advised me not inform my solicitor about this side-deal as it may jeopardize my loan with National Westminster Bank. Should I keep quiet?.
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 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.
I opted to have a survey carried out on a property in Bermondsey in advance of appointing lawyers. I have been told that there is a flying freehold element to the house. The surveyor has said that some mortgage companies may not issue a mortgage on a flying freehold house.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you e-mail us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bermondsey. Conveyancing may be slightly more expensive based on your lender's requirements.
My partner has recommend that I appoint his conveyancing solicitors in Bermondsey. Should I find my own solicitor?
Much as we are happy to recommend a Bermondsey conveyancing lawyer the ideal way to select a conveyancing practitioner is to seek guidance from friends or relatives who have experience in using the conveyancer that you are are thinking of instructing.
My wife and I today become aware that one of the partners of the law firm undertaking the purchase conveyancing in Bermondsey is related to the owners that we are buying from. Is this acceptable?
As long as there is no conflict of interest this should be fine. Where you are needing mortgage finance then the bank may have a say as many mortgage companies have specific requirements on this. For example for Coventry Building Society as of 22/7/2021, the requirements read as follows :