I plan on acquiring residence in Stamford Hill. My property lawyer has never been on on the lender approved list. Am I still permitted to use my Stamford Hill conveyancing solicitor even though they are excluded from the lender list of approved lawyers?
You will need to instruct a solicitor to deal with the legal work required when you require a mortgage to purchase your home. The property lawyer will conduct all the essential investigations on the property, ensuring that you’re registered as proprietor and ensure that all the required mortgage paperwork is in place. You could instruct a Stamford Hill conveyancer of your choice. However, where the conveyancer appointed is not a member of the bank conveyancing panel supplemental charges will be incurred as separate legal representation will be required by them. Bank panel applications can be submitted, so where your solicitor has not previously applied for membership they should do so.
We note that you have a post code search directory listing solicitors on the Lloyds conveyancing panel. Do companies pay you a commission if I appoint them for our own conveyancing in Stamford Hill?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Stamford Hill.
I am the single beneficiary of my late grandmother’s will and I have everything in my name alone, including the house in Stamford Hill. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership will be treated the same way as if I'd bought the property in August. Will no one buy the property for half a year?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. Most banks would take a practical view as this clause primarily exists to capture subsales or the flipping of properties.
We had appointed solicitors with offices in Stamford Hill on the Leeds Building Society solicitor panel. They have just invoiced me a further charge for handling the Leeds Building Society mortgage. Is this an additional conveyancing fee set by Leeds Building Society?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to charge a fee for this. This fee is not set by Leeds Building Society but by your Stamford Hill lawyer. Numerous firms on the Leeds Building Society panel will levy ’dealing with mortgage’ fee but many practices include it on their overall fee.
I have a mortgage with Santander for my property in Stamford Hill. Conveyancing has been completed months ago. In the event that I decide 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 Santander?
Santander must be informed of your intention prior to renting your property as this is likely to be a breach of Santander’s mortgage conditions. It may be that Santander 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 Santander directly. It should not be necessary to do this via a Santander conveyancing panel firm.
Various internet forums that I have come across warn that are the main reason for delay in Stamford Hill house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Stamford Hill.
Are there restrictive covenants that are commonly identified as part of conveyancing in Stamford Hill?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Stamford Hill. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Do online conveyancing organisations undertake everything a local Stamford Hill solicitor does or must I retain a solicitor for the final stages for my conveyancing in Stamford Hill?
Where you use an online conveyancer they should cover all the work your Stamford Hill solicitor will cover.