My Conveyancer in Fitzrovia has never been on on the HSBC Bank Conveyancing Panel. Is it possible for me to use my family solicitor even though they are not on the HSBC Bank list of approved lawyers?
Your options are as follows:
- Complete the purchase with your existing Fitzrovia lawyers but HSBC Bank will need to use a lawyer on their list of acceptable firms. This will result in additional total legal charges as well as cause delays.
- Choose a new solicitor to act in the conveyancing, remembering to check they are on the HSBC Bank panel
I am purchasing a property in Fitzrovia. A rare aspect is that the roof has a solar panel. Nationwide have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Nationwide your lawyer must comply with the formal requirements set out in Section 2 of UK Finance Lenders’ Handbook for Nationwide. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and lawyers are required to report to Nationwide where a lease fails to comply with these specifications. The requirements relate to the installation of panels on properties countrywide and is not limited to Fitzrovia.
I have today made my last payment due on my mortgage with Lloyds. I assume I don't need a Fitzrovia lawyer on the Lloyds panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
Intending to buy a house in Fitzrovia. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Fitzrovia property lawyer is on the Virgin Money conveyancing panel.
Should my lawyer be raising questions regarding flooding during the conveyancing in Fitzrovia.
Flooding is a growing risk for lawyers dealing with homes in Fitzrovia. There are those who purchase a property in Fitzrovia, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, however there are a various checks that can be carried out by the purchaser or by their lawyers which will give them a better appreciation of the risks in Fitzrovia. The standard completed inquiry forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to discover if the premises has suffered from flooding. If flooding has previously occurred which is not revealed by the vendor, then a buyer could issue a claim for damages as a result of such an incorrect answer. A buyer’s solicitors may also conduct an environmental report. This should disclose whether there is any known flood risk. If so, additional inquiries should be initiated.
I am purchasing a new build house in Fitzrovia with a loan from Barnsley Building Society. The builders would not reduce the price so I negotiated £7000 of extras instead. The estate agent advised me not to tell my solicitor about the side-deal as it would adversely affect my loan with Barnsley Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Am I better off to use a Fitzrovia conveyancing lawyer in close proximity to the house I am buying? An old friend can conduct the legal work however his firm is located a couple of hundredkilometers away.
The benefit of a local Fitzrovia conveyancing firm is that you can drop in to execute documents, deliver your identification documents and apply pressure on them if necessary. Having local Fitzrovia know how is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and the majority were impressed that must trump using an unfamiliar Fitzrovia conveyancing solicitor solely due to them being based in the area.
I have just appointed agents to market my 2 bed apartment in Fitzrovia. Conveyancing solicitors are to be appointed soon, but I have just had a quarterly service charge demand – Do I pay up?
It best that you clear the service charge as usual because all rents and maintenance invoices will be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Having spent years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Fitzrovia. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We can put you in touch with a Fitzrovia conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Fitzrovia flat is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 73.26 years.