Are all Hampstead Conveyancing Quality Solicitors on the Skipton conveyancing panel?
A selection of banks and building societies now use the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
I can not work out if my lender requires a lease extension. I have telephoned my Hampstead bank branch on a couple of occasions and was informed it wasn't an issue and they would lend. My Hampstead conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The lawyer must comply with the CML Handbook Part 2 requirements for your lender. 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am selling my flat. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Nottingham are being difficult. The Hampstead solicitor who is on the Nottingham conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Nottingham are insisting on a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The deeds to our house can not be found. The lawyers who did the conveyancing in Hampstead 5 years ago have long since closed. What are my next steps?
Nowadays there are copies made of almost everything, and your conveyancer should be aware precisely where to look for all the relevant documentation so you may purchase or sell your property without a hitch. If copies are not available, your conveyancer can put in place insurance or indemnities protecting you against future claims on your premises.
I am purchasing my first flat in Hampstead with the aid of help to buy. The builders would not budge the price so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not inform my solicitor about the deal as it could adversely affect 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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Hampstead is where the house is located. Is there any advice you can give?
Flying freeholds in Hampstead are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hampstead you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hampstead may ascertain 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 property.
As co-executor for the will of my father I am disposing of a property in Newport but live in Hampstead. My solicitor (based 300 miles from mehas requested that I execute a stat dec before the transaction finalising. Can you recommend a conveyancing practitioner in Hampstead to attest this legal document for me?
Technically speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are based in Hampstead
Our conveyancer in Hampstead has uncovered a a problem with the lease for the flat we are buying in Hampstead. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer has advised that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.