I am purchasing a brand new apartment in Edenbridge and my conveyancer is informing me that she has to the mortgage company to reveal incentives from the seller. The Estate Agents are hassling me to exchange and I don't want to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your . A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We previously chose conveyancers based in Edenbridge on the solicitor approved list. They have just invoiced me a further amount for the legal aspects of the mortgage. Is this an additional conveyancing fee specified by ?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your can levy a fee for this. This fee is not dictated by but by your Edenbridge . Some firms on the panel will levy an ‘acting for lender’ fee but plenty of firms incorporate it on their overall fee.
I have paid off my mortgage with . I assume I don't need a Edenbridge on the panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your 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 mortgage from the register. , 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 has sent the Land Registry the discharge electronically, and
- has instructed the Land Registry to do so
I was told two weeks ago that my mortgage has been agreed to by . Is it usual for to only issue the offer once my solicitor in Edenbridge is approved on their conveyancing panel? have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for to deal with your lawyer's application to be on the conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have been told that property searches are the primary reason for stalling in Edenbridge house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Edenbridge.
My wife and I purchased a semi-detached Georgian property in Edenbridge. Conveyancing solicitor acted for me and . I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the exact same address. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Edenbridge and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing lawyer who conducted the purchase.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one near me in Edenbridge I like with open areas and transport links in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in Edenbridge in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.