I require conveyancing for an apartment in a relatively new development (five years old) in Harrow Weald. The vast majority the flats have already been disposed of. Is it strictly necessary to order local searches for my conveyancing in Harrow Weald?
You are opening yourself up to an unnecessary risk in refusing to carrying out Harrow Weald conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal requirement to have them, but we would seriously advise in no uncertain terms that your conveyancer conducts them. Where timings and cost are primary issues you should consider with your conveyancer about the options such as lack of search insurance available to you
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Harrow Weald?
There are two types of lawyers who can do conveyancing in Harrow Weald namely CLC regulated conveyancers or solicitors. The two can handle the legal services that you need to complete the disposal or acquisition of property. Both are required to handle Harrow Weald conveyancing on similar quality and guidelines so you may be sure that your conveyancing will be properly carried out and that the requirements and steps will be accurately followed.
I happen to be the only recipient of my late mum's estate and I have everything in my name alone, including the house in Harrow Weald. Conveyancing formalities meant that the Land Registry date was in April. I plan to dispose of the house. I do know about the CML six month 'rule', meaning my proprietorship will be regarded the same way as if I'd bought the property in April. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. How practical a view mortgage companies take of it, depend on the bank as this obligation is chiefly there to capture the purchase and immediately sell or the flipping of property.
I can not fathom if my bank requires a lease extension. I have telephoned my Harrow Weald building society branch on various occasions and was told they are content with the situation and they would lend. My Harrow Weald conveyancing solicitor - who is on the mortgage company 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?
Your property lawyer has to comply with the CML Handbook section two provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My friend suggested that if I am purchasing in Harrow Weald I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Harrow Weald conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Harrow Weald around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Harrow Weald Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Harrow Weald Education with plans and statistics, Local Amenities and other useful information about Harrow Weald.
How does conveyancing in Harrow Weald differ for newly converted properties?
Most buyers of new build property in Harrow Weald contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is constructed. This is because developers in Harrow Weald usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Harrow Weald or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in Harrow Weald in advance of instructing lawyers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some mortgage companies tend not grant a mortgage on this type of premises.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you contact us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Harrow Weald. Conveyancing may be slightly more expensive based on your lender's requirements.
Why is it not possible to complete my conveyancing in Harrow Weald on May bank holiday?
Because on completion the sale price will pass between the banks of the buyer and seller's conveyancer and currently this can only happen on a working day. So you can't complete on a weekend either.