My partner and I are buying a newly built duplex in Notting Hill and my conveyancer is informing me that she is duty bound to the lender to reveal incentives from the builder. I am on a tight deadline to exchange contracts and my preference is not to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Why is leasehold purchase conveyancing in Notting Hill is more expensive?
Notting Hill leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Will my lawyer be making enquiries concerning flooding as part of the conveyancing in Notting Hill.
Flooding is a growing risk for conveyancers specialising in conveyancing in Notting Hill. There are those who buy a house in Notting Hill, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, but there are a various checks that can be carried out by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Notting Hill. The standard information sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to determine if the premises has suffered from flooding. In the event that flooding has previously occurred which is not disclosed by the vendor, then a buyer may commence a claim for damages as a result of such an misleading response. The purchaser’s lawyers should also conduct an enviro report. This should higlight whether there is any known flood risk. If so, additional inquiries will need to be made.
I bought my home on 9 January and the transaction details are still not registered. Need I be worried? My conveyancing solicitor in Notting Hill said it should be dealt with inside ten days. Are titles in Notting Hill uniquely lengthy to register?
There is nothing unique about conveyancing in Notting Hill registration formalities. Rather than based on location, timeframes can adjust depending on the party submitting the application, whether it is in order and whether the Land registry must send notices to any interested parties. As of today roughly 80% of submission are completed in less than three weeks but occasionally there can be protracted delays. Registration is effected after the new owner is living at the premises so post completion formalities is not typically primary concern yet if there is a degree of urgency associated with the registration then you or your lawyers can contact the land registry and explain the circumstances.
Due to the guidance of my in-laws I had a survey completed on a house in Notting Hill ahead of instructing conveyancers. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some lenders will not issue a mortgage on this type of house.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. If you contact us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Notting Hill. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Notting Hill to see if the conveyancing will be more expensive.
I would be grateful if you would clarify what options are open to me if my Notting Hill conveyancing searches reveals adverse entries?
Ordinarily, the majority of concerns exposed in Notting Hill conveyancing search responses can be dealt with in advance of completion or indemnity insurance can be put on cover. It is crucial to remember that although you are acquiring the property and might be content to accept the search results, your building society or bank may not, and ultimately they have the final say.