Frequently asked questions relating to the Kensington Mortgage Conveyancing Panel from members of the public
I am hoping to receive a offer of a mortgage from Kensington Mortgage. I would like to employ the services of a Licensed Conveyancer. Does the Kensington Mortgage Solicitor panel allow for conveyancers regulated by the CLC
Kensington Mortgage’s conveyancing panel is, like many other lenders associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My son is in the process of securing a newly built flat with a mortgage from Kensington Mortgage. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Kensington Mortgage conveyancing panel as a standard part of the process, and to the surveyor when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Kensington Mortgage conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I need to find a Kensington Mortgage panel solicitor in Belfast. Could you help me?
Unfortunately it’s not apparent why you need a Kensington Mortgage panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Kensington Mortgage to find out which solicitors in Kensington Mortgage are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
My solicitors in Newcastle have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with Kensington Mortgage. Is it case that being on the Kensington Mortgage conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Kensington Mortgage Conveyancing Panel Terms. It might be worth you contacting Kensington Mortgage directly.
In what circumstances might Kensington Mortgage amend or withdraw their mortgage offer?
Lenders such as Kensington Mortgage can withdraw their mortgage offer although this is unusual. should Kensington Mortgage withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are a number of examples:
- Kensington Mortgage may amend or withdraw an offer if the Kensington Mortgage conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- If the borrower informs Kensington Mortgage of a change in the loan amount agreed
- Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Kensington Mortgage conveyancing panel solicitors would be obliged to notify Kensington Mortgage of a change in the price of the property.
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- Where the sale is not at arms length for value to unconnected persons
I have a mortgage with Kensington Mortgage. My godfather retired last week and wants to pay off my mortgage. After Kensington Mortgage is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Kensington Mortgage conveyancing panel? I do not intend to live at the property once the Kensington Mortgage mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Kensington Mortgage panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
My ex -wife’s name is on the Kensington Mortgage mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Kensington Mortgage mortgage in order to sell?
In terms of the Kensington Mortgage mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Kensington Mortgage in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.