I have given 8 weeks notice to my current landlord and must leave my let out apartment in Northwood by the end of next month. Conveyancing on my purchase is progressing. Is it possible to complete in a couple of weeks as don't want to have to move into temporary accommodation?
It is unwise to give notice on a rental unless exchange of contracts has taken place. Assuming that you have not already done so, contact to your lawyer and request that they cajole the other side, try to an acceptable time-line that all parties will look to achieve
Will conveyancers ask for money on account for conveyancing in Northwood?
Where you are retaining lawyers for conveyancing in Northwood your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the sale price then this should be needed shortly ahead of exchange of contracts. Any further balance that is due should be transferred a few days ahead of the completion date.
My flat in Northwood is up for sale and I have a buyer. Does the conveyancer need to be required to be on the Barclays conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Barclays conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently at the moment.
I'm the single recipient of my late grandmother’s will and I have everything in my name alone, including the house in Northwood. The Northwood property was put into my name in January. I plan to dispose of the house. I do know about the CML 6 month 'rule', which means that my proprietorship could be regarded the same way as if I'd bought the property in January. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. How sensible a view banks take of it, depend on the bank as this clause is chiefly there to capture subsales or the quick reselling of property.
is it true that all Northwood solicitors on the Principality conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Principality conveyancing panel they would need to be overseen by the SRA. The majority of mortgage companies do allow licenced conveyancers on their panel and in such a situation the organisation would be regulated by the CLC.
I am purchasing a property in Northwood. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Aldermore be concerned?
As your lender is Aldermore your lawyer must check the conveyancing requirements set out in Section 2 of UK Finance Lenders’ Handbook for Aldermore. The CML Handbook contains minimum provisions for solar panel roof-space leases, and conveyancers are required to report to Aldermore where a lease fails to satisfy these conditions. The conditions relate to the installation of panels on properties nationwide and is not isolated to Northwood.
I am purchasing a new build house in Northwood benefiting from help to buy. The developers refused to reduce the amount so I negotiated 6k of extras instead. The sale representative told me not to tell my lawyer about this deal as it would jeopardize my mortgage with the bank. 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.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Northwood is the location of the property. What do you suggest?
Flying freeholds in Northwood are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Northwood you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Northwood 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 residence.