I am hoping to receive a offer of a home loan from Nat West. My intention is to instruct a Licensed Conveyancer in New Cross. Does the Nat West Conveyancing panel exclude conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
When does exchange of contracts take place for domestic conveyancing in New Cross and am I required to be at the lawyers office?
Where you are round the corner to one of the conveyancing solicitors in New Cross you are welcome to attend to sign contracts. However, the lender approved solicitors we recommend provide countrywide coverage for conveyancing and provide just as comprehensive and professional a job for you when communicating with you digitally. The executing of the contract is not the point of no return. A signed contract simply enables the conveyancer to officially exchange at the appropriate time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in New Cross)to be in the office at the appropriate time.
I currently have a mortgage with Lloyds for my property in New Cross. Conveyancing was finalised a year ago. Should I wish 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 Lloyds?
Lloyds must be informed of your intention in advance of renting your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds 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 Lloyds directly. You need not do this via a Lloyds conveyancing panel lawyer.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my New Cross bank branch on a couple of occasions and was told it wasn't a problem and they would lend. My New Cross conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the bank approved list, they must comply with the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I recently had an offer agreed on a house in New Cross. My mortgage broker suggested a conveyancer. I paid an on account payment of £175. Shortly after, the conveyancing practitioner contacted me sheepishly admitting that they were not on the Clydesdale conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Clydesdale panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a straight forward, chain free conveyancing. New Cross is the location of the property. Is there any guidance you can impart?
Flying freeholds in New Cross are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside New Cross you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in New Cross may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
In my capacity as executor for the will of my grandmother I am selling a residence in Swansea but reside in New Cross. My lawyer (based 250 kilometers from merequires that I sign a stat dec prior to completion. Can you recommend a conveyancing lawyer in New Cross to witness this legal document for me?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are based in New Cross