We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to use their panel lawyer as I would much rather instruct a local conveyancing solicitor in Sevenoaks?
You should check but the the probability is that give you one of their panel conveyancers should you want the "fee-free" incentive. Call the mortgage company to check if they offer you a monetary alternative. Some lenders have previously offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor in Sevenoaks.
Is there a list of Nationwide panel conveyancers in Sevenoaks on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings open the public over the internet. If you are looking for a Sevenoaks property lawyer on the Nationwide please use our tool.
It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Sevenoaks building society branch on numerous occasions and was told it wasn't a problem and they will lend. My Sevenoaks conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend based on their specific requirements. I simply don't know who is right.
Provided that the solicitor is on the lender panel, she or he must comply with the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After months of negotiation I have agreed a price on an apartment in Sevenoaks. My mortgage broker suggested a lawyer. I paid an advanced payment of £225. Soon after, the solicitor called me embarrassingly acknowledging that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
It has been three months since my purchase conveyancing in Sevenoaks took place. 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 asset 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.
Due to the guidance of my in-laws I had a survey completed on a house in Sevenoaks in advance of instructing solicitors. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some lenders will refuse to grant a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Sevenoaks. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Sevenoaks to see if the conveyancing costs will increase in light of this.
I'm refinancing my current house to a buy to let loan with Barnsley Building Society and intend to use the remaining equity as a down payment on further house. The location we are interested in is Sevenoaks. Will your lawyers be able to act for both sets of banks and tie in the two deals?
Do use our search tool on this page to ensure that the lawyers are on the relevant lender panels. Assuming that they are the solicitor will be able to tie up the two conveyancing matters but you should talk with you solicitor and make clear your expectations and needs.
22 days into purchasing a property in Sevenoaks. Conveyancing lawyer has called to say the title is "Leasehold". Does this make a difference on the marketability of the house?
Sevenoaks conveyancing does not normally involve leasehold houses. The key factor here is the length of lease and the ground rent. If there are over a hundred years remaining with a peppercorn rent, it's almost the same as freehold, so it’s unlikely to affect the saleability significantly.
At the other end of the spectrum, if it's, say, 50 years it will have a material impact on the value, and most likely wouldn't be mortgageable. The remaining lease term and ground rent will be stated in the lease provided to your conveyancing practitioner.