I have been referred to a conveyancing solicitor in Paddington. I I am struggling to find out whether they are accepted on the Coventry Building Society approved list of lawyers. Could you or the lender confirm if they are on the panel?
The first thing to do is e-mail your conveyancer and ask them whether they are on the lender panel. Alternatively please get in touch with Coventry Building Society who may be able to assist.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Paddington property lawyer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
I currently have a mortgage with RBS for my property in Paddington. Conveyancing has been completed some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform RBS?
RBS must be informed of your intention before renting your property as this is likely to be a breach of RBS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact RBS directly. It should not be necessary to do this via a RBS conveyancing panel firm.
I have instructed a Paddington conveyancer having checked that they are on the Leeds Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society 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. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Paddington postcode. As you are getting a mortgage with Leeds Building Society, you could contact them to see if they have a list of approved surveyors in Paddington.
I need some fast conveyancing in Paddington as I am faced with a deadline to complete within 3 weeks. Luckily I do not require a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
As you are are a mortgage free purchaser you have the choice not to do searches although no lawyer would suggest that you don't. Drawing on our experience of conveyancing in Paddington the following are examples of issues that can be revealed and therefore impact future saleability: Refused Planning Applications, Outstanding Fees, Overdue Grants, Road Schemes,...
How does conveyancing in Paddington differ for new build properties?
Most buyers of new build or newly converted property in Paddington approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is completed. This is because builders in Paddington tend to acquire 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 used to new build conveyancing in Paddington or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a property in Paddington in advance of appointing solicitors. I have been advised that there is a flying freehold element to the house. The surveyor advised that some lenders tend refuse to issue a loan on this type of house.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. Should you wish to call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Paddington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Paddington to see if the conveyancing costs will increase in light of this.
How straightforward is it to use the search tool to locate a conveyancing lawyer in Paddington on the authorised to act for my bank?
Step one is to select a mortgage company such as Birmingham Midshires, Barnsley Building Society or Nottingham Building Society then choose your preferred area a common one being Paddington. Conveyancing firms in Paddington and further afield should be listed.