I am need of leasehold conveyancing for an apartment in a relatively new development (6 years old) in Nine Elms. The vast majority the flats have already been sold. Is it strictly necessary to order neighbourhood searches for my conveyancing in Nine Elms?
You are putting yourself at risk in not carrying out Nine Elms conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would strongly advise in no uncertain terms that your lawyer conducts them. Where accelerating the process and cost are primary concerns you should discuss with your lawyer about the options such as indemnity insurance available to you
Our mortgage company has suggested a law firm on their panel based in Nine Elms but I would rather use a conveyancing lawyer in Nine Elms or nearer to where I live. Can you help?
Far from all Nine Elms conveyancing practices are approved and listed on all lender’s conveyancing panel. Do make the most of our find an approved solicitor tool to choose a Nine Elms conveyancing conveyancer on the on the bank panel.
Is it the case that all Nine Elms CQS (Conveyancing Quality Scheme) solicitors are on the Leeds Building Society conveyancing list of approved practices?
A selection of banks and building societies now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
I have decided to exercise my right to buy my property in Nine Elms off the council. I have a mortgage offer with Coventry BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
After weeks of negotiation I have agreed a price on an apartment in Nine Elms. My financial adviser recommended their conveyancers. I paid an on account payment of £150. Not long after, the conveyancing practitioner contacted me embarrassingly acknowledging that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am buying a new build house in Nine Elms benefiting from help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not disclose to my solicitor about the side-deal as it will affect my loan with the bank. Should I keep quiet?.
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.
I was advised by a few property agents in Nine Elms to find a solicitor on your site. What’s the financial advantage for Estate Agents to promote your lawyers rather than a competitor’s?
We don’t make any commission for directing people our way. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
Me and my fiance are about to complete buying a property in Nine Elms but as a consequence of wreckage from the recent storms I have agreed compensation from the owner of five thousand pounds taking the form of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my lender will not permit this. Why were they approached?
Your solicitor that is on a mortgage company conveyancing panel is duty bound to advise the mortgage company of any changes to the purchase figure. In the event that you prohibit your solicitor to disclose the reduction to your lender then they would need to discontinue acting for you and the lender.