I am expecting a offer of a home loan from Santander. My intention is to enlist the help of a Licensed Conveyancer in North Wembley. Does the Santander Solicitor panel allow for Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My grandson is buying a newly built flat in North Wembley with a home loan from Lloyds. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds conveyancing panel as a standard part of the process, and to the surveyor when requested. 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 Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am looking to buy a house and need a conveyancing solicitor in North Wembley who is on the Aldermore approved. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Aldermore in certain locations such as North Wembley. We dont recommend any particular firm.
I am the single beneficiary of my late grandmother’s estate with all property in now in my sole name, including the my former home in North Wembley. The North Wembley property was put into my name in June. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership could be considered the same way as though I had purchased the house in June. Do I have to wait half a year to sell?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. How sensible a view banks take of it, depend on the lender as this provision is chiefly there to identify the purchase and immediately sell or the wholesaling and assigning of properties.
When it comes to lenders such as Kent Reliance, do North Wembley property lawyers face an annual charge to be on the list of approved solicitors?
We are not aware of any bank fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
After shopping around on the internet I have found a North Wembley solicitor having made sure that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own North Wembley surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Various web forums that I have frequented warn that are the primary reason for hinderance in North Wembley conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in North Wembley.
How does conveyancing in North Wembley differ for new build properties?
Most buyers of new build or newly converted property in North Wembley come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is completed. This is because new home sellers in North Wembley tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in North Wembley or who has acted in the same development.