My conveyancer has discovered a a problem with the lease for the apartment we are buying in Hampstead. The other side have offered defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer says that he must be satisfied that the mortgage company is happy with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the bank are the client. The appropriate lender provisions must be adhered to.
We note that you have a post code search directory listing firms on the Virgin Money conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Hampstead?
We are a listing service only for law firms wishing to communicate if they are on the Virgin Money conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Hampstead.
I am purchasing a house and need a conveyancing solicitor in Hampstead who is on the Leeds Building Society solicitor. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Leeds Building Society in certain locations such as Hampstead. We dont recommend any particular firm.
It has been 4 months since my purchase conveyancing in Hampstead took place. I have checked the Land Registry site which shows that I paid £175,000 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 asset 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'm purchasing a new build house in Hampstead with the aid of help to buy. The builders refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not reveal to my conveyancer about the side-deal as it may impact my loan with Nationwide Building Society. Do I keep my lawyer in the dark?.
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.
How up-to-date is your database of lawyers on the mortgage company conveyancing panel in Hampstead? Do the lenders send you an updated list?
Hampstead law firm practices and firms conducting conveyancing in Hampstead themselves provide us confirmation that they are on the lender conveyancing panel as opposed to being supplied with a list from the bank directly.