I plan on purchasing an apartment in Wallington. My Conveyancer is not on the mortgage company solicitor panel. Can I still appoint my Wallington conveyancing solicitor notwithstanding that they are excluded from the lender list of approved lawyers?
You must use a lawyer to deal with the formalities if you take out a loan to buy your property. The conveyancer will conduct all the relevant legal checks on the property, make sure that you’re registered as proprietor and ensure that all the required mortgage documentation is dealt with. You can select a Wallington conveyancer of your choosing. Nevertheless, where the lawyer appointed is not a member of the bank approved list supplemental charges will be incurred as separate legal representation will be required by them. Bank panel applications may be submitted, so where your solicitor has not in the past sought membership they should take the opportunity to apply.
This question may be naive but I am new to the home buying as FTB of a two bedroom flat in Wallington. Do I receive the keys to the premises on completion from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in Wallington?
On the day of completion you will not be required to attend the conveyancers office in Wallington. Conveyancing lawyers for you will electronically transfer the purchase money to the vendor’s solicitors, and once they have received this, you will be able to collect the keys from the property Agents and move into your new home. Usually this happens between 1 and 3pm.
I have today made my last payment due on my mortgage with Kent Reliance. I assume I don't need a Wallington conveyancer on the Kent Reliance panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Kent Reliance 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 Kent Reliance mortgage from the register. Kent Reliance, 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 Kent Reliance has sent the Land Registry the discharge electronically, and
- Kent Reliance has instructed the Land Registry to do so
I was told two weeks ago that my mortgage has been agreed to by Santander. Is it usual for Santander to only issue the offer once my solicitor in Wallington is approved on their conveyancing panel? Santander have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when acquiring a house in Wallington?
Unless a previous acquisition of the property completed after 12 October 2013 you could expect solicitors conducting conveyancing in Wallington to continue to recommend a chancel search and or chancel repair liability insurance.
five months have gone by since my purchase conveyancing in Wallington took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. 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 am looking for a leasehold apartment up to £245,000 and identified one round the corner in Wallington I like with amenity areas and station in the vicinity, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Wallington for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage that many years will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
I'm refinancing my existing home to a BTL loan with Bank of Scotland and I will use the rest of the raised equity as a deposit on further property. The neighborhood we are interested in is Wallington. Will your conveyancers be able to act for the two mortgage companies and link together the transactions?
Make use of our comparison tool on this page to check that the solicitors are on the appropriate lender panels. On the basis that they are the conveyancer should be able to tie up the two transactions but you should talk with you conveyancer and specify your desired outcome and requirements.