I am selling my house in Cudham. Will my lawyer need to be on the Coventry BS conveyancing panel in order to deal with paying off 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 specifications fairly frequently currently.
Have just purchased a repossessed house at auction in Cudham. Conveyancing is required. What is next?
Now that you have to all intents and purposes signed on the dotted line you now have to retain a conveyancing practitioner as a matter of priority as you now have a fast approaching a fixed date to complete the property. All auction property will ordinarily have an associated auction set of papers. This will include most,if not all of the paperwork that your conveyancer will need. Where you are dealing with leasehold premises the legal pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You must hand this to the solicitor instructed by you ASAP. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Cudham lawyer on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I currently have a mortgage with Virgin Money for my property in Cudham. Conveyancing has been completed some time ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin Money?
You must advise Virgin Money before renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel firm.
I am buying my first flat in Cudham with the aid of help to buy. The developers would not reduce the price so I negotiated £7000 of additionals instead. The sale representative suggested that I not disclose to my lawyer about this deal as it would jeopardize my mortgage with the bank. Is this normal?.
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.
I'm converting the mortgage on my primary house to a BTL loan with Virgin Money and intend to use the remaining equity as a down payment on a second house. The neighborhood we are looking at is Cudham. Will your solicitors be able to act for the two banks and tie in the conveyances?
Make use of our search tool on this site to check that the conveyancers are on the appropriate lender panels. Having checked that they are your lawyer should be able to simultaneously deal with the two transactions but you should talk with you conveyancer and communicate your expectations and needs.
I need to instruct a conveyancing lawyer in Cudham for my purchase. Is there any facility to check a firm’s record with the legal regulator?
One may search for documented Solicitor Regulator Association (SRA) decisions stemming from inquisitions started on or after Jan 2008. Go to Check a solicitor's record. To find records Pre 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The SRA sometimes monitor call for training requirements.
Do I stop the direct debit for my mortgage with Barclays as soon as a completion date for my sale in Cudham has been agreed?
No, you must maintain paying any mortgage payments to Barclays pending the mortgage being redeemed on completion as part of your Cudham conveyancing.