The Fulham conveyancing firm handling our Fulham conveyancing has identified a discrepancy when comparing the assumptions in the home valuation survey and what is in the legal papers for the property. My solicitor informs me that he is obliged to check that the lender is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach legitimate?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
My husband and I are buying a newbuild flat in Fulham with a residential mortgage from Yorkshire Building Society.We use our Fulham conveyancing lawyer but Yorkshire Building Society advised that his firm is not on their "panel". we are left little option but to use a Yorkshire Building Society panel solicitor or retain our preferred solicitor and pay for a Yorkshire Building Society panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Yorkshire Building Society use our lawyer?
Unfortunately,no. The loan offered to you contains various provisions, one of which will be that solicitors will be on the Yorkshire Building Society approved list. Until recently, most banks had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Yorkshire Building Society
My wife and I are in the process of viewing flats in Fulham and I am now considering a potential offer. Should I already have a conveyancer appointed at this stage? I intend to finance via a home loan with Santander.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. Given that you are obtaining a mortgage with Santander, ask your prospective lawyers if they are on the Santander conveyancing panel otherwise they can't do the mortgage legal work.
I have today made my last payment due on my mortgage with HSBC. I assume I don't need a Fulham solicitor on the HSBC panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your HSBC 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 HSBC mortgage from the register. HSBC, 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 HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
The mortgage over my property is with Nationwide for my property in Fulham. Conveyancing has been completed a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Nationwide?
Your original mortgage agreement with Nationwide will provide that you need their approval prior to renting your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide will allow you to rent 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 Nationwide directly. You need not do this via a Nationwide conveyancing panel solicitor.
I'm purchasing a new build house in Fulham benefiting from help to buy. The sellers refused to move on the amount so I negotiated £7000 of additionals instead. The house builders rep suggested that I not disclose to my lawyer about the deal as it would impact my mortgage with the lender. Is this normal?.
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.
How do I identify a Fulham solicitor on the Nationwide Building Society conveyancing panel? I have wheels and am happy to travel upto 25kilometers to meet the solicitor.
You can use the tool on this website. Please pick a bank and your location and you will see a number of Fulham conveyancing lawyers located nearest you. We have detailed some Fulham conveyancing firms towards the end of this page and you can ring them to see if they are on the Nationwide Building Society member panel
Despite our best efforts, we have been unsuccessful in negotiating a lease extension in Fulham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Fulham conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Fulham residence is 66 and 66a Wardo Avenue in November 2012. The Tribunal determined that the sum of £8,048 is payable by the Applicants in respect of the price for the freehold of the property This case was in relation to 2 flats. The number of years remaining on the existing lease(s) was 93 years and 162 years.
When it comes to leasehold conveyancing in Fulham what are the most common lease defects?
Leasehold conveyancing in Fulham is not unique. All leases are individual and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
Service charge per centages that don't add up correctly leaving a shortfall A provision to repair to or maintain parts of the building
You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Royal Bank of Scotland, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.