We are hoping to buy a 3 bedroom flat in Crews Hill with a mortgage. We have a Crews Hill conveyancer, but the mortgage company advise he's not on their "panel". We have to appoint one of the bank panel firms or continue with our Crews Hill solicitor and pay for one of their panel lawyers to act for them. We feel that this is unjust; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Crews Hill conveyancing solicitor to apply to be on the conveyancing panel.
I am under pressure from the executor of a property in Crews Hill to complete within four weeks. What can be done to speed up the buying process?
Where you are under time constraints for your conveyancing we would recommend that your conveyancer is familiar with the area as they will make use of local contacts and intelligence. It is possible that they may have transacted previoushouses in the same road. Therefore consider using a Crews Hill conveyancing solicitor. Second, ensure that the lawyer is on the member panel. It is believed that 18% of Crews Hill conveyancing deals are suspended or derailed after finding out that a buyer’s solicitor was not on their banks member panel. This can often result in the home move being held up by as much as 21 days. It is estimated that this issue impacts approximately 100,000 home sales every year. Most Crews Hill conveyancing practices can not act for certain mortgage companies so do check at the outset.
My conveyancer has informed me that restrictive coveneant insurance is required on my purchase. What is the level of cover for Crews Hill conveyancing?
The appropriate level of restrictive coveneant indemnity insurance depends on who your lender is. It would differ for example between Santander and Chelsea Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
I am buying a property in Crews Hill. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Kent Reliance be concerned?
Given that your lender is Kent Reliance your lawyer must follow the formal requirements set out in Part two of UK Finance Lenders’ Handbook for Kent Reliance. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and property lawyers are required to report to Kent Reliance where a lease fails to comply with these requirements. The requirements relate to the installation of panels on properties countrywide and is not limited to Crews Hill.
Completion of my purchase has taken place for my property in Crews Hill. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
How does conveyancing in Crews Hill differ for newly converted properties?
Most buyers of new build property in Crews Hill come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is completed. This is because builders in Crews Hill typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Crews Hill or who has acted in the same development.
I am looking for a flat up to £245,000 and identified one close by in Crews Hill I like with a park and station in the vicinity, the downside is that it's only got 49 years on the lease. I can't really find anything else in Crews Hill suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the remaining unexpired lease term will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
Can a conveyancer remove someone from the title of my property in Crews Hill ?
Subtracting or adding someone to the title of your home is relatively straightforward. You’ll need to appoint a solicitor to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a property lawyer