My wife and I are intending to acquire a 3 bedroom flat in Kingston Vale with a mortgage. We have a Kingston Vale conveyancer, but the bank advise she’s not on their "panel". It seems we have little choice but to appoint one of the mortgage company panel firms or keep our Kingston Vale conveyancing practitioner and pay for one of their panel firms to act for them. This feels very unfair; are we not able to demand that the bank use our Kingston Vale solicitor ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Kingston Vale conveyancing solicitor to apply to be on the conveyancing panel.
I appreciate that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when acquiring a property in Kingston Vale? or Apparently there is a law dating back centuries that means some house owners living in a parish church boundary will be compelled to pay for repairs to the chancel within the church. Is this appropriate for conveyancing in Kingston Vale?
Unless a prior acquisition of the premises took place post 12 October 2013 you could assume that lawyers carrying out conveyancing in Kingston Vale to continue to advocate a chancel search and or insurance against a claim.
I'm purchasing my first flat in Kingston Vale benefiting from help to buy. The builders refused to move on the price so I negotiated 6k of additionals instead. The estate agent suggested that I not disclose to my conveyancer about this side-deal as it may jeopardize my loan with the lender. Is this normal?.
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.
Due to the guidance of my in-laws I had a survey completed on a house in Kingston Vale ahead of instructing lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some mortgage companies will not grant a loan on a flying freehold house.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. If you call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Kingston Vale. Conveyancing may be slightly more expensive based on your lender's requirements.
In surfing the world wide web for the term cheap conveyancing in Kingston Vale it shows results of numerous property lawyersin the vicinity. How do I determine which is the suitable property lawyer for purchase transaction?
The ideal method of choosing a suitable conveyancer is via trusted referral, so ask colleagues and relatives who have acquired a property in Kingston Vale or the respected estate agent or mortgage broker. Fees for conveyancing in Kingston Vale vary, so it's a good idea to request at least three estimates from different conveyancers. Make sure that you know that the costs are guaranteed not to to be inflated.
My offer on property in Kingston Vale has been agreed to, but there is a chain. The owners have offered on a flat, however it’s not yet tied up, and are looking at other properties booked. I have selected a nearby conveyancing lawyer in Kingston Vale. What should be my next step? At what point should I apply for the mortgage with TSB?
It is usual to have concerns where there is an associated chain given your reluctance to incur costs too early (mortgage application is approx £1k, then valuation, Kingston Vale conveyancing search fees, etc). The first course of action is to ensure that your lawyer is on the TSB approved list. Regarding the subsequent steps this very much depends on the circumstances of your case, desire for the property and on the state of the market. In a rising market some buyers would apply for a home loan with TSB and arrange for the valuation and only if it comes back ok would they request their conveyancing practitioner to proceed with searches.