My mortgage broker requires my Keston solicitor’s panel reference for the Santander conveyancing panel. How do I obtain this. I have tried my local Keston branch but they have not got back to me yet.
The sensible thing to do is ask for this information from your Keston conveyancer . Most Keston law firms will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
Why do I have to pay up front for conveyancing in Keston?
Where you are retaining lawyers for conveyancing in Keston your solicitor will request that you to provide them with funds to cover the the cost of the conveyancing searches. Normally this is needed to cover the fees of the conveyancing searches. When the deposit is as part of the sale price then this will be asked for shortly prior to contracts are exchanged. The closing balance that is due will be payable a few days ahead of the day of completion.
I am the sole beneficiary of my late father’s will and I have everything in my name now, including the my former home in Keston. Conveyancing formalities meant that the Land Registry date was in October. I want to move. I do know about the Mortgage Lenders 6 month 'rule', which means that my proprietorship may be regarded the same way as though I had purchased the house in October. Do I have to wait 6 months to sell?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. How sensible a view lenders take of it, depend on the lender as this obligation is principally there to identify subsales or the wholesaling and assigning of properties.
Is it the case that all Keston solicitors on the Leeds Building Society conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be regulated by the SRA. The majority of mortgage companies do permit licenced conveyancers on their panel and in that case the practice would be governed by the CLC.
We have agreed to purchase a house in Keston. A rare aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Virgin Money your lawyer must follow the formal instructions contained in Section two of UK Finance Lenders’ Handbook for Virgin Money. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and solicitors are required to report to Virgin Money where a lease does not comply with these provisions. The conditions relate to the installation of panels on properties countrywide and is not limited to Keston.
A relative suggested that if I am buying in Keston I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your Keston conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Keston around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Keston Education with maps and statistics, Local Amenities and other useful data regarding Keston.
I have been on the look out for a leasehold apartment up to £305k and found one round the corner in Keston I like with a park and railway links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Keston suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the shortness of the lease may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
We are seeking to buy a repression house in Keston and the mortgagee in possession would like to complete inside a month. Do property lawyers complete in this timeframe? Am I best advised to use a local Keston firm or an online company that advertises to complete quickly?
Attend your Keston high street. Go in to 3 companies and request to see a conveyancing solicitor for an estimate. Discuss your requirements and try and obtain assurances on time frames. Choose the one that appears most efficient. You need to select a property lawyer on the list of property lawyers acceptable to your lender.