The Greenwich conveyancing lawyers that just started acting on my house acquisition in Greenwich have suddenly closed. I chose them because I had to have a lawyer on the Clydesdale conveyancing panel and my preferred Greenwich lawyer was not. I paid them funds on account. What are my options?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Clydesdale conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
This question may be naive but I am unseasoned as FTB of a two bedroom flat in Greenwich. Do I receive the keys to the house on the completion date from my lawyer? If this is the case, I will instruct a High Street conveyancing solicitor in Greenwich?
On the day of completion you will not be required to attend the conveyancers office in Greenwich. Your solicitors will transfer the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you will be able to collect the keys from the Estate Agents and move into your new home. Usually this happens between 1 and 3pm.
Are all Greenwich Conveyancing Quality Solicitors on the Yorkshire BS conveyancing list of approved practices?
Some major lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
Nationwide have agreed my mortgage in principle, my bid on a property in Greenwich has been agreed to, what happens next?
Your property agent will wish to be advised as to your conveyancer's details (make sure the lawyers are on the bank’s panel). Call up Nationwide or the broker and complete any appropriate forms. Nationwide will instruct a valuer who will get in contact with the selling agent or vendor to arrange a time for the valuation to take place. Once conducted (assuming no problems) it takes approximately ten days to get a mortgage offer. Nationwide will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Greenwich.
Should our lawyer be asking questions concerning flooding as part of the conveyancing in Greenwich.
Flooding is a growing risk for lawyers dealing with homes in Greenwich. There are those who acquire a house in Greenwich, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, but there are a various checks that may be carried out by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in Greenwich. The conventional set of property information forms sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the seller to determine if the property has historically flooded. In the event that the residence has been flooded in past and is not revealed by the vendor, then a purchaser could bring a legal claim for losses as a result of such an misleading response. A buyer’s conveyancers should also order an environmental search. This will disclose whether there is any known flood risk. If so, additional inquiries will need to be made.
Are there restrictive covenants that are commonly identified during conveyancing in Greenwich?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Greenwich. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm purchasing my first flat in Greenwich with a mortgage from Chelsea Building Society. The builders refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep advised me not reveal to my lawyer about the side-deal as it would jeopardize my mortgage with the bank. Is this normal?.
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.
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At this site secure a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Greenwich. As opposed to estate agents and brokerage sites we do not charge firms a fee if you instruct them for your property ownership legalities in Greenwich