Introducer Today

Ask the Legal Expert

Howes Percival are delighted to be the new resident "Legal Guru".

Chris is happy to answer any questions you have on Conveyancing, HIPS etc.

  

 

Please email your questions to chris.tate@howespercival.com

How long will the re-mortgage take?

Our timescale from offer to completion is 5 days.   For cases where this is not achievable (in approx 5% of cases), we ensure that we keep in constant contact with the broker until a completion date has been agreed.

The client wants to add another name to the deeds of the property – what needs to be done?

We will require instructions from the owner of the property as to the name of the person being transferred onto the property and whether there is any money being paid by this person for their share.  We shall also need to know how they wish to hold the property, as joint tenants or tenants-in-common?

When can the client cancel mortgage payments?
  
Our advice to clients is not to cancel any payments until completion has taken place and we have notified them in writing.  This is to ensure that we do not have any problems when redeeming existing mortgages or secured loans.

Are there any other extra charges we should know about?

Occasionally we make an extra charge especially where we carry out additional work (ie bankruptcy/transfer cases or relating to the implemention of indemnity policies to cover defects in title etc).

What happens on completion?

Once the advance monies are received from the new mortgage lender, we pay off all existing lenders, pay the introducer's fees and deduct our costs.   We also pay any other fees for which we hold a signed authority (ie ASU) and then account to the client for the residual balance.

What happens after completion?

We proceed to register the new mortgage at the Land Registry and send a copy of the amended title to the client.