My conveyancer has discovered a defect with the lease for the flat we are buying in Harrow on the Hill. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancing practitioner says that he must be satisfied that the bank 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 risk of a conflict of interest, you and the bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with 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 property lawyer will have no choice but to discontinue acting for you.
I have a decision in principle. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would much rather instruct a Harrow on the Hill based conveyancing firm?
You should check but the chances are that allocate you one of their panel solicitors if you want the "fee-free" incentive. Call the lender to determine if they allow a monetary alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Harrow on the Hill.
I can see plenty of here regarding conveyancing in Harrow on the Hill but what is your top tip for selecting the right conveyancer in Harrow on the Hill
It would be unwise to be swayed by the lowest Harrow on the Hill conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
My lawyer has informed me that defective lease insurance is needed on my purchase. What is the level of cover for Harrow on the Hill conveyancing?
The appropriate level of defective lease indemnity insurance should be dictated by who who your lender is. It would differ for example between Santander and Leeds Building Society. Conveyancing lawyers as opposed to members of the public take out such insurances.
I had an offer accepted on a property in Harrow on the Hill on 25/9/2019, valuation was booked five days after, all came back fine. Conveyancer instructed, so all that was missing was my mortgage offer. Having made daily calls to RBS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the RBS conveyancing panel. Are RBS entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
My friend advised me that if I am purchasing in Harrow on the Hill I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Harrow on the Hill conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Harrow on the Hill around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Harrow on the Hill Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Harrow on the Hill Education with plans and statistics, Local Amenities and other useful information regarding Harrow on the Hill.
Are there restrictive covenants that are commonly identified as part of conveyancing in Harrow on the Hill?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Harrow on the Hill. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Harrow on the Hill differ for newly converted properties?
Most buyers of new build property in Harrow on the Hill contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Harrow on the Hill tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Harrow on the Hill or who has acted in the same development.