I plan on buying a flat in Maida Hill. My lawyer is not listed on the bank conveyancing panel. Is it possible for me to retain my Maida Hill conveyancing solicitor even though they are not on the lender panel?
You have numerous choices available to you here
- Carry on with your preferred Maida Hill solicitor but your bank will no doubt retain a solicitor from their conveyancing panel. This will result in additional charges and potential frustration.
- Appoint a new conveyancing practitioner to conduct the conveyancing, making sure they are on the bank conveyancing panel.
- Convince your solicitor to do everything possible to get listed on the bank’s conveyancing panel
At what point will exchange of contracts take place for domestic conveyancing in Maida Hill and do I need to be at the lawyers branch?
If you are round the corner to our conveyancing solicitors in Maida Hill you are invited in to sign documents. However, the law practices we recommend provide a nationwide conveyancing service and give just as diligent and professional a job for you when communicating with you electronically. The signing of the sale agreement is not the point of no return. A signed contract is just a prerequisite for the solicitor to officially exchange when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Maida Hill)to be in the office available at the end of the phone to exchange contracts.
I'm the only beneficiary of my late grandmother’s estate with all property in now in my sole name, including the my former home in Maida Hill. The Maida Hill property was put into my name in August. I plan to dispose of the property. I understand that there is a CML six month 'rule', which means that my proprietorship may be treated the same way as though I had purchased the property in August. Will no one buy the property for half a year?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. How practical a view lenders take of it, depend on the lender as this clause chiefly exists to capture subsales or the flipping of property.
Can I be sure that the Maida Hill conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Maida Hill getting 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 solicitor handling your transaction.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Maida Hill building society branch on various occasions and was advised it wasn't a problem and they would lend. My Maida Hill conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the conveyancer is on the lender approved list, she or he must follow the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the lender 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.
About to purchase a new build apartment in Maida Hill. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Maida Hill
-
Please confirm the Lease plans are architect prepared. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
Should I be suspicious by brokers that I am dealing with are encouraging me to use a national conveyancing firm rather than a High Street Maida Hill conveyancing firm?
As with many professional services, often input from relatives can be worth their weight in gold. Yet there are numerous players in a conveyancing transaction; estate agents, mortgage brokers and banks might all suggest conveyancers to select. On occasion the lawyers might be known to one of the organisations as experts in their field, but occasionally there might be a commercial relationship behind the endorsement. You have the discretion to choose your preferred conveyancer. However, bear in mind that many banks specify a panel list of conveyancers you must use for the mortgage related work in your home move.
As co-executor for the estate of my grandmother I am selling a residence in Swansea but live in Maida Hill. My solicitor (based 260 miles from mehas requested that I sign a stat dec prior to completion. Could you suggest a conveyancing solicitor in Maida Hill to witness this legal document for me?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will be fine regardless of whether they are based in Maida Hill