My husband and I are planning to buy a property in West Hendon and are in fact using a West Hendon conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. TSB have this evening contacted us to advise us that they have now hit a problem as our West Hendon lawyer is not on their conveyancing panel. Is this a problem?
If you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred West Hendon lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Can you vouch for a Leeds Building Society approved West Hendon conveyancing practice finish our house move within less than a month? Would it be better to use a local West Hendon practice or an internet firm?
We can recommend some very good West Hendon conveyancing firms. You can also walk up the high street in West Hendon. Visit a couple of firms and request to see a conveyancing solicitor for a fee estimate. Mention your time frames together with your reasons and get a commitment on your deadline. Appoint the one that genuine.
Can you explain why leasehold purchase conveyancing in West Hendon costs more?
The conveyancing fees on a leasehold premises in West Hendon is frequently higher than on a freehold residence. This is due to the supplemental investigations necessary in communicating with the freeholder and management company to obtain information about whether the rent and maintenance fee have been paid and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
We are purchasing a detached bungalow in West Hendon. The intention is to carry out a loft conversion at the property.Will the conveyancing process include checks to see if these alterations were previously refused?
Your property lawyer will review the deeds as conveyancing in West Hendon can on occasion identify restrictions in the title documents which restrict certain changes or necessitated the permission of a 3rd party. Certain works call for local authority planning consent and approval in accordance building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be wise to check these things with a surveyor before you commit yourself to a purchase.
We were going to get a OIP from Principality this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Principality recommend any West Hendon solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?
You will need to appoint West Hendon solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
Planning on purchasing a maisonette in West Hendon. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the West Hendon property lawyer is on the Co-operative conveyancing panel.
I am buying a new build house in West Hendon with the aid of help to buy. The sellers would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not inform my solicitor about this side-deal as it would put at risk my loan with Nationwide Building Society. Should I keep quiet?.
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.
Should I cancel my mortgage payments with TSB as soon as a completion date for my home sale in West Hendon has been agreed?
No, you should maintain meeting any mortgage payments to TSB until the mortgage is redeemed on completion as part of your West Hendon conveyancing.