We are about to sign contracts for a property in Rednal. We encountered a stumbling block. The loan offer with HSBC Bank runs out on 2/12/2021 but the vendors are putting forward a completion date of 6/12/2021. Is it possible to extend the loan offer?
The best person to address this issue is your solicitors who will hopefully determine whether they better off negotiating with the mortgage company, vendor’s solicitors, estate agents or conceivably all three given the circumstances your transaction as of today.
Is it correct that all Rednal CQS (Conveyancing Quality Scheme) solicitors are on the HSBC conveyancing list of approved firms?
A selection of banks and building societies now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
I have paid off my mortgage with Barclays. I assume I don't need a Rednal conveyancing practitioner on the Barclays panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Barclays 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 Barclays mortgage from the register. Barclays, 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 Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
I currently have a mortgage with Barclays for my property in Rednal. Conveyancing has been completed a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Barclays?
Your original mortgage agreement with Barclays will provide that you need their approval prior to renting your property as this is likely to be a breach of Barclays’s mortgage conditions. It may be that Barclays will permit you to let 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 Barclays directly. It should not be necessary to do this via a Barclays conveyancing panel lawyer.
It has been 3 months following my purchase conveyancing in Rednal concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying a new build house in Rednal benefiting from help to buy. The developers refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not reveal to my conveyancer about the side-deal as it may adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
How does the Landlord & Tenant Act 1954 affect my commercial property in Rednal and how can you help?
The 1954 Act provides a safeguard to commercial tenants, giving them the dueness to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and assist with commercial conveyancing in Rednal
My in 2005. He has been married, widowed and in recent months got remarried. He now intends to dispose of the Rednal property. I suspect that he will simply be asked to supply copies of his marriage certificates to the solicitor however he is worried it could frustrate the home move. Should he appoint a lawyer to update the title documents for the property?
It is not absolutely necessary to bring up to date the title for the property on the basis that you have the proof needed to show how the change of name occurred.
The buyer’s conveyancing practitioner will review the land registry details and requisition evidence to prove the change of name for instance marriage documentation.