I have just been advised by my mortgage broker that my Chalk Farm solicitor is not on the mortgage company Conveyancing panel. How can I be certain that this is indeed the case?
The best course of action for you to take is to contact your Chalk Farm lawyer directly. You lawyer should inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
Our grandson is in the process of securing a new build apartment in Chalk Farm with a home loan from Principality. His lawyer 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 form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Principality 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 Principality conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We wanted to use a property lawyer in Chalk Farm for our house move. Our broker has since notified us that our bank TSB won't deal with them. Why is this not regarded as unduly restrictive?
Banks in the main imposes restrictions either the type or the volume of conveyancing practices on their member panel. Typical examples of such restriction(s) being that a law practice must have two or more partners. As well as restricting the type of firm, some have decided to limit the number of firms they allow to represent them. You should note that TSB have no responsibility for the quality of advice provided by any member of TSB Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels a few years ago even though there remains mixed opinions regarding the extent of solicitor engagement in some of that fraud. Statistics from the Land Registry indicate that hundreds of law firms, including some in or near Chalk Farm only execute one or two conveyances a year.
I am assisting my mother sell her house in Chalk Farm. Does the conveyancing solicitor order the EPC or should I organise this?
After the demise of HIPs, EPC’s became a mandatory element of moving house. An EPC must be to hand before the property is marketed. It is not something that conveyancers ordinarily organise. If you are using a Chalk Farm conveyancing practitioner they might help arrange EPC’s due to their contacts with long established local energy assessors
I have paid off my mortgage with Principality. I assume I don't need a Chalk Farm property lawyer on the Principality panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality 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 Principality mortgage from the register. Principality, 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 Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
Planning on purchasing a maisonette in Chalk Farm. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Chalk Farm lawyer is on the Coventry BS conveyancing panel.
4 months have elapsed following my purchase conveyancing in Chalk Farm took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I opted to have a survey carried out on a property in Chalk Farm ahead of appointing conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies tend not issue a mortgage on this type of premises.
It depends who your proposed lender is. Santander has different instructions from Nationwide. Should you wish to telephone us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Chalk Farm. Conveyancing may be slightly more expensive based on your lender's requirements.