The Belgravia conveyancing lawyers that just started acting on my house acquisition in Belgravia have suddenly closed. They were on acting for me because I needed a lawyer on the Santander conveyancing panel and my preferred Belgravia lawyer was not. I paid them funds on account. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know immediately 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 should appoint new lawyers that are on the Santander 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 solicitors may be able to help.
My wife and I have organised the release of further monies on our home loan from Bank of Ireland as we want to conduct alterations to our house in Belgravia. Are we obliged to select a local Belgravia solicitor on the Bank of Ireland conveyancing panel to deal with the paperwork?
Bank of Ireland would not normally appoint a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Bank of Ireland panel.
We have a mortgage agreed in principle with Clydesdale. Belgravia conveyancing solicitors have been instructed. What is the average time that one could expect to receive a mortgage offer from Clydesdale?
Some lenders take longer than others. Have Clydesdale done the valuation? Have you informed Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am currently in the process of buying my council flat in Belgravia. I have a mortgage agreed with Aldermore. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
I'm purchasing a new build house in Belgravia benefiting from help to buy. The developers refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not reveal to my solicitor about the extras as it may jeopardize my mortgage with Virgin Money. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Belgravia is where the house is located. What do you suggest?
Flying freeholds in Belgravia are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Belgravia you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Belgravia may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Having had my offer accepted I require leasehold conveyancing in Belgravia. Before diving in I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Belgravia - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
My wife and I have hit a brick wall in trying to purchase the freehold in Belgravia. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Belgravia conveyancing firm who can help.
An example of a Lease Extension case for a Belgravia property is Flat 3 47 Cadogan Square in December 2010. the Tribunal determined that the premium payable to the landord by the leaseholder for the lease extension was £732,935 This case affected 1 flat. The unexpired term as at the valuation date was 13.33 years.
What if there is an issue with the searches carried out as part of our conveyancing in Belgravia?
On the whole, almost all problems exposed in Belgravia conveyancing search responses can be handled ahead of completion or indemnity insurance may be obtained. It is crucial to remember that regardless of the fact that you may be purchasing the property and may be willing to accept the search results, your building society or bank may not, and ultimately the decision rests with them.