My husband and I are planning to acquire a flat in Kilgetty and have appointed a Kilgetty conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Aldermore have this afternoon contacted us to advise us that they have now hit a problem as our Kilgetty lawyer is not on their conveyancing panel. What do we do from here?
If you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also represent the purchaser's lender. 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 Quality Scheme. Your solicitor should contact your mortgage company 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Kilgetty lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
When does exchange of contracts take place for purchase conveyancing in Kilgetty and am I required to be at the solicitors office?
If you are local to our conveyancing solicitors in Kilgetty you are welcome to attend to sign contracts. However, the law practices we recommend provide a nationwide conveyancing service and provide just as comprehensive and professional a job for you when dealing with you digitally. The executing of the contract is not the important part. A signed contract is just a prerequisite for the solicitor to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Kilgetty)to be in the office at the appropriate time.
I have paid off my mortgage with Leeds Building Society. I assume I don't need a Kilgetty lawyer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society 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 Leeds Building Society mortgage from the register. Leeds Building Society, 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 Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Kilgetty off the council. I have a mortgage agreed with Kent Reliance. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
Intending to buy a maisonette in Kilgetty. 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 Bank of Ireland 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 Kilgetty solicitor is on the Bank of Ireland conveyancing panel.
What does a local search reveal concerning the property I am buying in Kilgetty?
Kilgetty conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations for instance Onsearch The local search is essential in every Kilgetty conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your new home. The search should provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
I'm purchasing my first flat in Kilgetty benefiting from help to buy. The developers refused to move on the amount so I negotiated 6k of extras instead. The house builders rep told me not reveal to my solicitor about the deal as it will put at risk my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.