My partner and I are purchasing a new build flat in London and my conveyancer is informing me that she has to the lender to disclose incentives from the seller. The Estate Agents are hassling me to exchange and I don't want to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
When reading consumer advice sites for a conveyancing lawyer in London, most advise that I must look for a CQS kitemarked lawyer. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home moving process, trusted by some of the UK's leading lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. CQS is not a scheme offered by the Council of Licensed Conveyancing. London is one of the numerous areas in England and Wales where there are CQS solicitors.
How can we know in advance if a London conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in London obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer handling your conveyancing.
I had a mortgage agreed in principle with Principality. London conveyancing lawyers have been appointed. What is the average time that one could expect to receive a mortgage offer from Principality?
Some lenders take longer than others. Have Principality completed the survey? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I currently have a mortgage with Barclays for my property in London. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Barclays?
Barclays must be informed of your intention in advance of letting out your property as this is likely to be a breach of Barclays’s mortgage conditions. It may be that Barclays will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. You need not do this via a Barclays conveyancing panel solicitor.
I am looking for a ground for flat up to £195,000 and found one round the corner in London I like with a park and station in the vicinity, the downside is that it's only got 52 remaining years left on the lease. There is not much else in London in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the shortness of the lease may be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
How does the Landlord & Tenant Act 1954 affect my business property in London and how can you help?
The 1954 Act provides protection to commercial leaseholders, granting the right to apply to court for a renewal tenancy and continue in occupation when the lease reaches an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. London is one of our numerous areas of the UK in which the firms we work with have offices
I have been recommended a conveyancing solicitor in London. I I would like to check if they are on the lender's approved list of lawyers. Could you or the lender confirm if they are on the panel?
One option is to call your solicitor to enquire if they are on the lender's panel. If that does not help call us and we can investigate and revert. If they are not on the bank panel we can certainly arrange a specialist conveyancing solicitor in London on the panel for your lender.