We have agreed to purchase a house in Covent Garden. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Leeds Building Society be concerned?
Given that you are obtaining a mortgage with Leeds Building Society your lawyer must follow the formal requirements set out in Section two of UK Finance Lenders’ Handbook for Leeds Building Society. The Council of Mortgage Lenders’ Handbook includes minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Leeds Building Society where a lease fails to satisfy these conditions. The specifications relate to the installation of panels on properties countrywide and is not restricted to Covent Garden.
I was told two weeks ago that my mortgage has been agreed to by TSB. Is it usual for TSB to only issue the offer once my solicitor in Covent Garden is approved on their conveyancing panel? TSB have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have instructed a Covent Garden property lawyer having checked that they are on the Santander conveyancing panel. Does my lawyer arrange the survey of the property?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Covent Garden surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I need some fast conveyancing in Covent Garden as I am faced with an ultimatum to exchange contracts within 3 weeks. Fortunately I do not require a mortgage. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are are a cash buyer you are at free not to have searches carried out although no solicitor would recommend that you don't. Drawing on years of experience of conveyancing in Covent Garden the following are instances of what can be revealed and adversely impact future saleability: Refused Planning Applications, Overdue Fees, Overdue Grants, Railway Schemes,...
I bought my apartment on 3 September and the transaction details is not yet registered. Should I be concerned? My conveyancing solicitor in Covent Garden advises it would be registered in less than a month. Are titles in Covent Garden particularly slow to register?
There is nothing unique about conveyancing in Covent Garden registration formalities. Rather than based on location, timescales can vary according to the party submitting the application, whether there are errors and whether the Land registry communicate with any other persons or bodies. At present roughly three quarters of such applications are completed within two weeks but some can be subject to extensive delays. Historically registration is effected once the buyer is living at the property thus 'speed' is not usually an essential issue but if there is a degree of urgency associated with the registration then you or your lawyers must contact the land registry and explain the circumstances.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Covent Garden is where the house is located. Can you offer any assistance?
Flying freeholds in Covent Garden are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Covent Garden you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Covent Garden 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.
My step-father has recommend that I appoint his conveyancing solicitors in Covent Garden. Should I use them?
No doubt the ideal way to select a conveyancing practitioner is to have referrals from friends or family who have experience in using the conveyancer that you are considering.
My offer on detached house in Covent Garden was accepted, but there is a chain. The owners have offered on somewhere, but it’s not yet tied up, and has viewings of other flats booked. I have chosen a nearby conveyancing solicitor in Covent Garden. What should be my next step? At what point do I apply for the mortgage with Skipton?
It is usual to have anxieties where there is an associated chain given your reluctance to incur expenses too early (home loan application is in the region of £1k, then survey, Covent Garden conveyancing search costs, etc). The first thing to do is ensure that your conveyancing practitioner is on the Skipton conveyancing panel. As to the next steps this very much depends on the uniqueness of your case, desire for this property and on the state of the market. In a rising market many buyers will apply for a home loan with Skipton and arrange for the valuation and only if it was satisfactory would they ask their property lawyer to proceed with the conveyancing in Covent Garden.