My partner and I are only a couple days away from an exchange on a property in Hampstead and my mum and dad have transferred the 10% deposit to my conveyancing practitioner. I am now informed that as the deposit has not arrived from me my conveyancer needs to disclose this to my bank. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancer is duty bound to clarify with the bank to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
We have a mortgage agreed in principle with Aldermore. Hampstead conveyancing lawyers have been instructed. What is the average time that one could expect to receive a mortgage offer from Aldermore?
Some lenders take longer than others. Have Aldermore completed the survey? Have you informed Aldermore as to your lawyers' details and checked that your lawyers are on the Aldermore conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
After much negotiation I have agreed a price on a house in Hampstead. My mortgage broker suggested a lawyer. I paid an upfront payment of £150. A couple of days later, the lawyer called me embarrassingly acknowledging that they were not on the Barclays 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 Barclays 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.
I am due to exchange contracts on my flat. I had a double glazing fitted in May 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, HSBC are being problematic. The Hampstead solicitor who is on the HSBC conveyancing panel is happy to accept ‘lack of building regulation’ insurance but HSBC are requiring a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase a new build apartment in Hampstead. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Hampstead
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Please confirm the Lease plans are surveyor prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
How can the Landlord & Tenant Act 1954 impact my business offices in Hampstead and how can you help?
The 1954 Act affords protection to commercial leaseholders, giving them the a statutory right to apply to court for a renewal tenancy and remain in occupation at the end of the lease term. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Hampstead
We're new to the buying process - agreed a price, but the property agent has warned us that the seller will only move forward if we use their recommended lawyers as they need a ‘quick sale’. My instinct tells me that we should use a family solicitor accustomed to conveyancing in Hampstead
It is improbable the sellers are behind this. If they require ‘a quick sale', taking such a hostile approach to a serious buyer is not the way to achieve this. Try to communicate with the vendors directly and explain that (a)you are genuine buyers (b)you are ready to progress, with finances arranged © you are chain free (d) you wish to move quickly (e)however you are going to instruct your own,trusted Hampstead conveyancing firm - not the ones that will provide their estate agent a referral fee or achieve conveyancing targets set by head office.
Do online conveyancing organisations cover everything a local Hampstead solicitor does or do I still need to employ a solicitor for the final stages for my conveyancing in Hampstead?
Where you use an online conveyancer they should undertake all the tasks your Hampstead solicitor would cover.