We are planning to buy with Loughborough BS. We have called around locally yet cant to find a Fitzrovia conveyancing firm on the Loughborough BS panel. Please you help?
Feel free to take advantage of the search tool on this site. Pick the mortgage company and type Fitzrovia or your preferred area and you will discover numerous solicitors located in Fitzrovia or by proximity to you.
I happen to be the sole beneficiary of my late father’s estate with all property in now in my sole name, including the my former home in Fitzrovia. Conveyancing formalities meant that the Land Registry date was in August. I want to move. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship may be treated the same way as if I'd bought the property in August. Do I have to wait half a year to sell?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How practical a view banks take of it, depend on the lender as this requirement primarily exists to pick up on subsales or the wholesaling and assigning of property.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Fitzrovia bank branch on various occasions and was told it does not impact the mortgage offer and they would lend. My Fitzrovia conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the conveyancer is on the bank approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After what feels like an age I have had an offer on a maisonette in Fitzrovia agreed to, the owners do however have a dependent purchase. The vendors have put an offer on somewhere, however it’s not yet agreed to, and have viewings of other properties booked. I have selected a high street conveyancing solicitor in Fitzrovia. What should be my next step? When should I get the mortgage application with Santander going?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx £1k, then valuation, Fitzrovia conveyancing search fees, etc). First, you should ensure that your lawyer is on the Santander approved list. As to the subsequent phase this very much dictated by the specifics of your transaction, attraction to this property and on the state of the market. In a rising market some purchasers would apply for a home loan with Santander and pay for the valuation and only if it comes back ok would they ask their conveyancing practitioner to press on with searches.
How does conveyancing in Fitzrovia differ for new build properties?
Most buyers of new build property in Fitzrovia contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Fitzrovia 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 Fitzrovia or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Fitzrovia is where the house is located. What do you suggest?
Flying freeholds in Fitzrovia are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fitzrovia you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fitzrovia may decide 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.
We're FTB’s - agreed a price, yet the property agent advised that the vendor will only move forward if we instruct their preferred lawyers as they are insisting on a ‘quick sale’. We would rather use a family solicitor with experience of conveyancing in Fitzrovia
We suspect that the seller is not behind this requirement. Should the seller want ‘a quick sale', alienating a motivated purchaser is counter productive. Speak to the vendors direct and explain that (a)you are motivated buyers (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you wish to move quickly (e)but you intend to use your preferred Fitzrovia conveyancing solicitors - rather thanthose that will earn their estate agent a introducer fee or hit his conveyancing figures demanded by head office.
Can you please explain what my options are where my Fitzrovia conveyancing searches reveals adverse results?
Usually, the majority of adverse entries disclosed in Fitzrovia conveyancing search results can be dealt with prior to completion or title insurance may be taken. You need to remember that even though you are purchasing the property and may be willing to accept the search results, your mortgage lender may not, and when all said and done the decision rests with them.