Am I correct in assuming that the fact that my conveyancer in Hounslow is not listed on my mortgage company's conveyancing panel that there is a problem with the quality of his work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Hounslow conveyancing firm and ask them why they are no longer on the approved list for your bank.
My partner and I are refinancing our penthouse in Hounslow with Coventry BS. We have a son 19 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have two questions (1) Is this form unique to the Coventry BS conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Coventry BS. This is solely used to protect Coventry BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Coventry BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
As I am unsure how the conveyancing process works what is the most important number one tip you can give me regarding purchase conveyancing in Hounslow?
Not many law firms shout this from the rooftops but conveyancing in Hounslow or throughout West London is often a confrontational process. Put another way, when it comes to conveyancing there exists plenty of opportunity for friction between you and others involved in the home moving process. E.g., the vendor, estate agent and sometimes a bank. Choosing a lawyer for your conveyancing in Hounslow an important selection as your conveyancer is your adviser, and is the SOLE party in the process whose responsibility is to look after your legal interests and to protect you.
On occasion a third party with a vested interest will try and persuade you that you should follow their advice. For instance, the property agent may claim to be helping by claiming that your conveyancer is wrong. Or your financial adviser may try to convince you to do something that is against your lawyers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
Will our solicitor be making enquiries regarding flooding during the conveyancing in Hounslow.
Flooding is a growing risk for lawyers dealing with homes in Hounslow. Some people will acquire a house in Hounslow, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, however there are a various searches that may be carried out by the buyer or on a buyer’s behalf which can figure out the risks in Hounslow. The conventional set of completed inquiry forms sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard question of the vendor to discover if the property has ever been flooded. In the event that the residence has been flooded in past and is not disclosed by the seller, then a buyer could commence a compensation claim as a result of such an incorrect answer. The purchaser’s conveyancers may also commission an environmental search. This will reveal whether there is a recorded flood risk. If so, further investigations should be made.
Me and my brother purchased a 4 bedroom Edwardian house in Hounslow. Conveyancing solicitor acted for me and Godiva Mortgages Ltd. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hounslow and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with your conveyancing practitioner who carried out the work.
I am buying a new build house in Hounslow with a mortgage from Accord Mortgages Ltd. The developers refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not disclose to my conveyancer about this deal as it will affect my loan with Accord Mortgages Ltd. 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.