I plan on purchasing residence in Fitzrovia. My property lawyer has never been on on the mortgage company solicitor panel. Am I still permitted to retain my Fitzrovia conveyancing solicitor notwithstanding that they are excluded from the lender list of approved lawyers?
Various options include
- Carry on with your preferred Fitzrovia solicitor but your bank will no doubt retain a conveyancer on their conveyancing panel. This will result in additional cost and potential delay.
- Choose a new lawyer to conduct the conveyancing, making sure they are on the bank conveyancing panel.
- Convince your property lawyer to attempt to join the lender panel
I have given 8 weeks notice to my current landlord and must vacate my let out flat in Fitzrovia by the end of next month. Conveyancing on my purchase has just started. Can I complete in 4 weeks as I wish to avoid having to find short term accommodation?
Generally one should not provide notice on a rental until your lawyer suggests that you should. If you have not previously done so, notify to your solicitor and request that they seek the assistance the other lawyers, try to an agreed time frame that all parties will work to achieve
The Fitzrovia conveyancing lawyers that I recently instructed on my house acquisition in Fitzrovia have suddenly shut down. I chose them because I had to have a solicitor on the HSBC conveyancing panel and my previous Fitzrovia lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. 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 HSBC 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 assist.
We have agreed to purchase a house in Fitzrovia. A rare aspect is that the roof has a solar panel. Yorkshire BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Yorkshire BS your lawyer must follow the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Yorkshire BS. The CML Handbook includes minimum conditions for solar panel roof-space leases, and solicitors are required to report to Yorkshire BS where a lease fails to comply with these provisions. The requirements relate to the installation of panels on properties in England and Wales and is not isolated to Fitzrovia.
I have a mortgage with UBS for my property in Fitzrovia. Conveyancing was finalised 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform UBS?
UBS must be informed of your intention before renting your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. You need not do this via a UBS conveyancing panel firm.
Our sealed bid on a semi in Fitzrovia has been agreed to, but there is a chain. The vendors have offered on a flat, but it’s not yet tied up, and are looking at other flats booked. I have chosen a bricks and mortar conveyancing solicitor in Fitzrovia. What do I do now? When should I get the mortgage application with TSB going?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of one thousand pounds, then survey, Fitzrovia conveyancing search charges, etc). The first thing to do is ensure that your solicitor is on the TSB conveyancing panel. As to the subsequent phase this very much depends on the circumstances of your case, attraction to this property and on the state of the market. In a buoyant market many buyers would apply for the mortgage with TSB and arrange for the valuation and only if it was satisfactory would they pay their property lawyer to proceed with searches.
Given that I am about to part with 450k on a terraced house in Fitzrovia I wish to have a conversation with the lawyer about myhouse move before appointing the firm. Is this something that you can arrange?
This is something that we recommend - we would be pleased to talk to you we do not take any clients on without you speaking to the solicitor due to be doing your property ownership legalities in Fitzrovia.There is no ‘factory style conveyancing’ - every client is an important individual, not a case number. The solicitors that we put you in touch with believe that the fees you are quoted for residential conveyancing in Fitzrovia should be the figure that you end up paying.
How do I determine who owns a property in Fitzrovia?
On the basis that the property is registered with HM Land Registry, and you have sufficient specifics of the address of the premises, you should be able to obtain details from the the Land Registry of the recorded proprietor for a fee.