Our grandson is in the process of securing a new build apartment in Leyton with a mortgage from UBS. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the UBS conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the UBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do all mortgage companies provide you with an approved list of Leyton conveyancing solicitors? How do you know who is on the RBS conveyancing panel?
Leyton conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.
Are all Leyton Conveyancing Quality Solicitors on the Co-operative conveyancing panel?
Some major lenders now use CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
Completion of my remortgage has taken place for my property in Leyton. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I had an offer accepted on a property in Leyton on 9/12/2021, valuation was booked 3 days after, all came back fine. Solicitor instructed, so all that was missing was my mortgage offer. Having made daily calls to Aldermore and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Aldermore conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am close to exchanging contracts on the sale of our house in Leyton and according to the buyers it appears that there is a risk of it being constructed on contaminated land. A high street Leyton conveyancer would know that there is no such problem. It does beg the question why the purchasers are using an internet conveyancing firm as opposed to a conveyancing solicitor in Leyton. Having lived in Leyton for 5 years we know that this is a non issue. Do we contact our local Authority to seek clarification that there is no issue.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I was advised by a number of selling agents in Leyton to find a conveyancer on your site. Is there a financial advantage for Estate Agents to market your lawyers ahead of a competitor’s?
We don’t make any commission for pointing buyers and sellers our way. We found it would be just too difficult a fee as a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
Fiveweeks into buying a house in Leyton. Conveyancing lawyer has told us the property is "Leasehold". Does this adversely affect our Natwest valuation?
Leyton conveyancing does not ordinarily involve leasehold houses. The crucial consideration here is the length of lease and the ground rent. If it's 999 years with a peppercorn rent, it's almost the same as freehold, so it shouldn't impact the marketability too much.
On the flip side, if it's, say, 50 years it is bound to have a significant effect on the value, and probably wouldn't be mortgageable. The remaining lease term and ground rent will be stated in the lease provided to your property lawyer.