I had intended to instruct a property lawyer in Kew for our house purchase. Our broker informed us that our mortgage company Bank of Ireland won't deal with them. Surely this is unfair competition?
Before the recession most banks had a different appetite for risk. Almost all Kew conveyancing firms would have been on most lender panels. The Financial Services Authority in 2010 carried out a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms concerning their operations and their employees as well as establishing certain criteria such a completing on a minimum number of transactions. Many Kew conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Kew is one of the hundreds of areas where the solicitors we recommend are members of the panel for Bank of Ireland.
This question may be naive but I am new to the house moving as FTB of a two bedroom flat in Kew. Do I collect the keys to the property on completion from my conveyancer? If so, I will instruct a local conveyancing solicitor in Kew?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the vendor’s conveyancers, and once they have received this, you will be invited to collect the keys from the Estate Agents and move into your new home. Usually this occurs early afternoon.
We were going to get a OIP from Nationwide this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nationwide recommend any Kew solicitors on the Nationwide conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Kew solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.
Co-operative have agreed my mortgage in principle, my offer on a house in Kew has been agreed to, what happens next?
Your estate agent will need to know who your solicitors are (ensure that the conveyancers are on the bank’s approved list). Call up Co-operative or your broker and complete any outstanding documentation. Co-operative will appoint a valuer who will get in contact with the selling agent or vendor to arrange a slot for the valuation to happen. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. Co-operative will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Kew.
Will commercial conveyancing searches disclose planned roadworks that may impact a commercial site in Kew?
Its becoming the norm that commercial conveyancing solicitors in Kew will carry out a SiteSolutions Highways report as it reduces the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Kew. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Kew.
For each commercial conveyancing transaction in Kew it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Kew commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Kew.
I'm buying a new build house in Kew with a mortgage from Halifax. The developers would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The sale representative told me not inform my lawyer about the extras as it may impact my loan with the lender. Do I keep my lawyer in the dark?.
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 property I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Kew is the location of the property. Is there any advice you can impart?
Flying freeholds in Kew 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 Kew you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kew may decide 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 premises.
I am a negotiator for a busy estate agent office in Kew where we see a few flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Kew conveyancing solicitors. Could you clarify whether the owner of a flat can commence the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
My wife and I have hit a brick wall in negotiating a lease extension in Kew. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We are happy to put you in touch with a Kew conveyancing firm who can help.
An example of a Lease Extension case for a Kew residence is Flat 1 30 Ennismore Avenue in September 2010. the Tribunal adopted and arrived at a premium for the lease extension of £29, 900 This case was in relation to 1 flat. The unexpired lease term was 68.34 years.