When it comes to lenders such as Santander, do Kempston conveyancing practitioners incur a fee to be on the conveyancing panel?
We are unaware of any bank fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
Two weeks ago we had a mortgage agreed in principle with Co-operative. Kempston conveyancing solicitors are appointed. What is the average time that one could expect to receive a mortgage offer from Co-operative?
There is no definitive answer here. Have Co-operative done the valuation? Have you advised Co-operative as to your lawyers' details and checked that your lawyers are on the Co-operative conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have today made my last payment due on my mortgage with HSBC. I assume I don't need a Kempston solicitor on the HSBC panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your HSBC 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 HSBC mortgage from the register. HSBC, 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 HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
I have been told that property searches are the number one cause of hinderance in Kempston conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Kempston.
four months have gone by since my purchase conveyancing in Kempston completed. I have checked the Land Registry website 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 premises 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 am purchasing a new build house in Kempston with the aid of help to buy. The sellers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not to tell my conveyancer about this extras as it would adversely affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 opted to have a survey completed on a house in Kempston ahead of retaining lawyers. I have been told that there is a flying freehold element to the property. My surveyor advised that some lenders tend not give a loan on such a premises.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Kempston. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are one month into a leasehold purchase having been referred to solicitors by the high street agent to do our conveyancing in Kempston. I am not happy. Could you help me find new solicitors?
They would have to be very poor to suggest changing them. Has the mortgage offer been generated? In the event that it has you must make them aware of the new contact details and ensure the mortgage documents are re-issued. Your new conveyancer should be on the mortgage company approved list to avoid escalating charges and delays. So that should be your starting point. The search tool will help you find a lender approved lawyer for your home move in Kempston