I sincerely hope you can help me. My Primrose Hill lawyer is assuring me that she is duty bound toapply for Primrose Hill conveyancing searches asthe firm are on the HSBCsolicitor panel. Is this really necessary?
You have limited options available to you. As you are obtaining a mortgage with a bank your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Primrose Hill conveyancing searches.
We're in Primrose Hill, FTBs purchasing with a mortgage (lender is Nationwide , and our solicitor is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Is it the case that all Primrose Hill solicitors on the TSB conveyancing panel are governed by the SRA?
As solicitors, in order to be on the TSB conveyancing panel they would need to be overseen by the SRA. Many banks do list licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
I can not work out if my mortgage offer requires a lease extension. I have called my Primrose Hill building society branch on a couple of occasions and was told it does not affect the mortgage offer and they would lend. My Primrose Hill conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
As long as the lawyer is on the mortgage company approved list, they must comply with the Council of Mortgage Lenders’ Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 remaining.
After months of negotiation I have agreed a price on a house in Primrose Hill. My financial adviser recommended their conveyancers. I paid an upfront payment of £150. A couple of days later, the conveyancer called me sheepishly admitting that they were not on the Bank of Ireland 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 Bank of Ireland 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.
What will a local search tell me concerning the property we're purchasing in Primrose Hill?
Primrose Hill conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company for example Searches UK The local search is essential in every Primrose Hill conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your new home. The search will provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
I'm purchasing a new build house in Primrose Hill with a mortgage from Skipton Building Society. The builders would not move on the price so I negotiated 6k of additionals instead. The house builders rep suggested that I not disclose to my solicitor about the deal as it will impact my mortgage with Skipton Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the input of my in-laws I had a survey completed on a property in Primrose Hill ahead of retaining solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some lenders tend refuse to issue a mortgage on such a premises.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Primrose Hill. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Primrose Hill to see if the conveyancing will be more expensive.