My husband and I are acquiring a newly built flat in Chalk Farm and my lawyer is telling me that she has to the mortgage company to disclose incentives from the builder. I am under pressure to exchange contracts and I would rather not prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What is the best way to investigate if the solicitor carrying out my conveyancing in Chalk Farm is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Nottingham Building Society thus paying £192.00 in additional conveyancing charges.
Feel free to take advantage of the search tool on this web page. Please choose the mortgage company and type ‘Chalk Farm’ or your preferred area and you will discover a number of lawyer located in Chalk Farm or nearest you.
I happen to be the only recipient of my late father’s will and I have everything in my name alone, including the house in Chalk Farm. Conveyancing formalities meant that the Land Registry date was in June. I now wish to sell up. I do know about the CML 6 month 'rule', meaning my proprietorship may be regarded the same way as if I'd bought the property in June. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. How practical a view mortgage companies take of it, depend on the lender as this clause primarily exists to capture subsales or the flipping of property.
Two weeks ago we had a mortgage agreed in principle with Leeds Building Society. Chalk Farm conveyancing practitioners were instructed. What is the average time that one could expect to receive a mortgage offer from Leeds Building Society?
There is no definitive answer here. Have Leeds Building Society conducted the survey? Have you informed Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have today made my last payment due on my mortgage with Kent Reliance. I assume I don't need a Chalk Farm solicitor on the Kent Reliance panel to discharge the mortgage at the Land Registry. Am I right?
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
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a simple, no chain conveyancing. Chalk Farm is the location of the property. Is there any advice you can give?
Flying freeholds in Chalk Farm are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chalk Farm you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chalk Farm may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
In searching the internet for the phrase on line conveyancing in Chalk Farm it brings up many property lawyersin the area. How do I determine which is the suitable property lawyer for the sale of my house?
The ideal method of finding a suitable conveyancer is through a personal recommendation, so enquire of friends and those you trust who have bought a property in Chalk Farm or a local estate agent or financial adviser. Costs for conveyancing in Chalk Farm differ, so it's advisable to obtain at least four fee estimates from varying types of companies. Dont forget to clarify what costs in the quote includes.
How easy is it to change a solicitor as I need to find a Chalk Farm based one who is on the bank conveyancing panel. How simple is it to change conveyancer?
In the event that you have not formally instructed a conveyancer to commence the conveyancing and at this stage simply received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Chalk Farm that you're thinking of instructing.