We were just about to exchange contracts for a garden flat in Notting Hill. We have hit a snag. Our loan offer with Barnsley Building Society expires on 9/10/2025 but the owners are suggesting a completion date of 13/10/2025. Can one extend the loan expiry date?
The person best placed to address this concern is your lawyer who will hopefully assess whether they better off negotiating with the bank, seller’s lawyers, selling agents or possibly all parties taking into account the circumstances your transaction to date.
I had intended to instruct a conveyancing solicitor in Notting Hill for our house move. Our broker informed us that our bank Nottingham Building Society won't deal with them. Surely this is unduly restrictive?
Pre- 2008 most mortgage companies had a different appetite for risk. Almost all Notting Hill conveyancing firms would have been on most mortgage company panels. The financial services regulator in 2010 conducted a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms concerning their operations and the individuals who work for them as well as establishing certain criteria such a completing on a minimum number of transactions. Many Notting Hill conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Notting Hill is amongst the hundreds of locations where the conveyancers showing on our search results are are approved Nottingham Building Society.
What is your number one tip for choosing a conveyancing solicitor in Notting Hill
We would encourage you not to go for the cheapest Notting Hill conveyancing quote. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am purchasing a property in Notting Hill. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Skipton be concerned?
As your lender is Skipton your lawyer must comply with the formal requirements contained in Part two of UK Finance Lenders’ Handbook for Skipton. The Council of Mortgage Lenders’ Handbook contains minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Skipton where a lease fails to satisfy these requirements. The provisions relate to the installation of panels on properties nationwide and is not limited to Notting Hill.
My offer on a detached house in Notting Hill has been agreed to, the owners do nevertheless have a connected purchase. The owners have put an offer on a flat, but it’s not been accepted yet, and are looking at other properties booked. I have chosen a nearby conveyancing solicitor in Notting Hill. What should be my next step? When do I get the mortgage application with Virgin Money going?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx one thousand pounds, then survey, Notting Hill conveyancing search charges, etc). First, you must check that your property lawyer is on the Virgin Money approved list. Regarding the subsequent steps this very much depends on the specifics of your transaction, attraction to this property and on the state of the market. In a buoyant market some buyers will apply for the mortgage with Virgin Money and arrange for the valuation and only if it was satisfactory would they request their solicitor to move forward with searches.
Should our lawyer be raising enquiries regarding flooding during the conveyancing in Notting Hill.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Notting Hill. Plenty of people will acquire a house in Notting Hill, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, however there are a various searches that may be undertaken by the buyer or on a buyer’s behalf which can figure out the risks in Notting Hill. The standard property information forms supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the owner to determine if the premises has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the vendor, then a buyer could bring a legal claim for losses as a result of such an misleading answer. A purchaser’s conveyancers may also conduct an enviro report. This will higlight whether there is a recorded flood risk. If so, further investigations will need to be conducted.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what should have been a quick, chain free conveyancing. Notting Hill is the location of the property. Is there any guidance you can impart?
Flying freeholds in Notting Hill are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Notting Hill you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Notting Hill 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 property.
When it comes to my conveyancing in Notting Hill should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Notting Hill conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.