I am expecting a mortgage offer from Nat West. I would like to employ the services of a Licensed Conveyancer in Hampstead. Does the Nat West Solicitor panel exclude conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I am buying a house mortgage free in Hampstead. I have lived for the previous Seventeen years in Hampstead. Conveyancing searches are expensive. Given that I have knowledge of the area and road intimately must I have all the conveyancing searches?
In the absence of a mortgage, then all but one or two of the Hampstead conveyancing searches are optional. Your lawyer will 'advise', perhaps strongly, that you should have searches carried out, but he has a professional duty to take that path of advice. One thing to bear in mind; if you are likely to dispose of the house at a future date, it could be of relevance to your future purchaser what the searches contain. There are plenty of instances where premises with day to day issues can still show up unexpected search results. A competent conveyancing solicitor in Hampstead will be able to give you some sensible guidance concerning this.
We note that you have a search directory listing solicitors on the Skipton conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Hampstead?
We are a listing service only for law firms wishing to communicate if they are on the Skipton conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Hampstead.
We wanted to use a property lawyer in Hampstead for our home move. Our broker has since notified us that our bank Bank of Scotland won't deal with them. Why is this not regarded as unfair competition?
Mortgage Companies on the whole restrict either the category or the volume of conveyancing solicitors on their panel. Typical examples of such restriction(s) being that a firm must not be a sole practitioner. As well as restricting the profile of firm, a few lenders have limited the number of solicitor practices they allow to act for them. Be aware that Bank of Scotland have no responsibility for the quality of advice provided by any member of Bank of Scotland Conveyancer Panel. Mortgage fraud was a key driver in the reduction of solicitor panels a few years ago even though there remains differing opinions about the level of solicitor engagement in some of that fraud. Data from the Land Registry reveal that hundreds of law firms, including some in or near Hampstead only carry out very few conveyances per annum.
Just had an offer accepted on a new build flat in Hampstead. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Hampstead
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Please confirm the Lease plans are surveyor prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Over the last few months I have been searching for a flat up to £235,500 and identified one round the corner in Hampstead I like with open areas and railway links nearby, however it only has 49 remaining years left on the lease. I can't really find anything else in Hampstead for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the shortness of the lease may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.