I am not in a position to travel far from Kew. Please explain the reason why all Kew conveyancing practitioners aren't included on all mortgage company panels?
Mortgage companies highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The dismissal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for mortgage companies to review their conveyancing panels, which triggered a major policy change in the sector. This resulted in banks and building societies culling less reputable firms off their panel of approved solicitors .
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel solicitor as I would prefer to appoint a specialised conveyancing solicitor in Kew?
You should check but the chances are that allocate you one of their panel solicitors if you accept the "fee-free" incentive. Speak to the lender to explore if they offer you a cash alternative. In the past a few lenders offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Kew.
The deeds to our house can not be found. The lawyers who did the conveyancing in Kew 10 years ago have long since closed. What do I do?
Gone are the days when you need to have the physical official documentation to establish that you own the land or premises, given that the Land Registry have everything they need in a digital format.
I'm purchasing a new build house in Kew benefiting from help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not disclose to my lawyer about this deal as it would 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've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Kew is the location of the property. Can you shed any light on this issue?
Flying freeholds in Kew are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kew you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kew may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My husband and I are a fortnight into a freehold purchase having been referred to solicitors by the estate agent to do our conveyancing in Kew. We are not happy. Could you you assist me in finding new solicitors?
They would need to be really bad to suggest changing them. Has the mortgage offer been sent? In the event that it has you will need to inform them of the new contact details and have the mortgage documents are re-sent. Your conveyancer should be on the banks approved list to avoid escalating charges and complications. That should be your first question of the new solicitors. Our search tool can assist you in finding a bank approved solicitor for your home move in Kew