Some advice if I may. My Hampstead conveyancer is informing me me that she is duty bound toconduct Hampstead conveyancing searches asthe firm are on the HSBCsolicitor panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with a lender your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Hampstead conveyancing searches.
We are selling our house in Hampstead. Will the property lawyer need to be required to be on the HSBC conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the HSBC conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
We had instructed conveyancers locally in Hampstead on the Clydesdale solicitor panel. They are now charging me a supplemental fee for handling the Clydesdale mortgage. Is this an additional conveyancing fee specified by Clydesdale?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitor is entitled to levy a fee for this. The charge is not set by Clydesdale but by your Hampstead lawyer. Plenty of firms on the Clydesdale panel will charge an ‘acting for lender’ fee and others do not.
My husband and I are spending time viewing flats in Hampstead and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a mortgage with UBS.
It would be wise to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. Given that you are taking out a mortgage with UBS, ask your prospective lawyers if they are on the UBS conveyancing panel otherwise they can't do the mortgage legal work.
I have decided to exercise my right to buy my property in Hampstead off the council. I have a mortgage agreed with Leeds Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to have this when buying a house in Hampstead? or Apparently there is an ancient law that means some homeowners living in a parish church boundary may be liable to pay for maintenance to the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Hampstead?
Unless a previous acquisition of the house completed after 12 October 2013 you could expect conveyancing practitioners handling conveyancing in Hampstead to remain recommending a chancel search and or insurance against a claim.
I am buying my first flat in Hampstead with a loan from Britannia. The sellers refused to reduce the price so I negotiated £7000 of additionals instead. The sale representative advised me not disclose to my conveyancer about the extras as it will affect my loan with the bank. 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.
What is the reason for my solicitor requiring a list of items of ID ahead of starting selling or buying a property in Hampstead?
Hampstead lawyers are obliged by the Law Society, Solicitors Regulation Authority, HMLR and current Money Laundering Regulations to record that the have checked the identity of their clients. It will also be a requirement of your mortgage offer. In addition they have to complete various forms, particularly those relating to stamp duty land tax and need to have details such as your full names, national insurance number and DOB.