Can you explain why leasehold purchase conveyancing in Hampden Pk is more expensive?
Hampden Pk leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Please explain the implications if my solicitor is removed from the Kent Reliance Solicitor panel ahead of completing my conveyancing in Hampden Pk?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
is it true that all Hampden Pk solicitors on the Virgin Money conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Virgin Money approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of lenders do permit licenced conveyancers on their panel and in such a situation the organisation would be regulated by the CLC.
I have today made my last payment due on my mortgage with Nationwide. I assume I don't need a Hampden Pk property lawyer on the Nationwide panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nationwide 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 Nationwide mortgage from the register. Nationwide, 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 Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
My offer was accepted on a property in Hampden Pk on 5/12/2022, valuation was booked five days after, all came back fine. Conveyancer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Aldermore and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Aldermore conveyancing panel. Are Aldermore entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will commercial conveyancing searches reveal impending roadworks that may affect a commercial estate in Hampden Pk?
Many commercial conveyancing solicitors in Hampden Pk will order a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Hampden Pk. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hampden Pk.
For each commercial conveyancing transaction in Hampden Pk it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Hampden Pk commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Hampden Pk.
I'm buying a new build house in Hampden Pk with a mortgage from Accord Mortgages Ltd. The sellers would not move on the price so I negotiated £7000 of extras instead. The estate agent told me not to tell my solicitor about the extras as it will impact my loan with Accord Mortgages Ltd. Is this normal?.
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.
Due to the guidance of my in-laws I had a survey completed on a property in Hampden Pk before retaining solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies may refuse to grant a mortgage on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hampden Pk. Conveyancing will be smoother if you use a solicitor in Hampden Pk especially if they are accustomed to such properties in Hampden Pk.