I am in a contract race with another buyer for a property in South Wimbledon. What can I do to speed up matters?
First, If the seller is applying a tight deadline to exchange it is highly recommended that your lawyer is familiar with the location as they will benefit local connections and know-how. It is even conceivable that they could have conducted previoushomes in the same road. You would be best advised to use a South Wimbledon conveyancing solicitor. In addition, be sure that the lawyer is on the member panel. It is claimed that 18% of South Wimbledon conveyancing transactions are suspended or jeopardised after finding out that a buyer’s lawyer was not on their banks member panel. This can often result in the legal transfer of property being frustrated by as much as 21 days. It is said that this issue affects approximately 100,000 home sales annually. Many South Wimbledon conveyancing firms can not represent certain banks so do check as early as possible.
How up to date is your search tool for South Wimbledon conveyancing solicitors on the Clydesdale conveyancing panel? Do Clydesdale send you an updated list?
South Wimbledon conveyancing firms themselves provide us confirmation that they are on the Clydesdale conveyancing panel as opposed to being supplied with a list from Clydesdale directly.
Is it the case that all South Wimbledon CQS (Conveyancing Quality Scheme) solicitors are on the Clydesdale conveyancing list of approved solicitors?
Some major banks and building societies now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
We have agreed to purchase a house in South Wimbledon. A rare aspect is that the roof has a solar panel. RBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is RBS your lawyer must comply with the conveyancing requirements contained in Section two of UK Finance Lenders’ Handbook for RBS. The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to RBS where a lease fails to comply with these provisions. The provisions relate to the installation of panels on properties nationwide and is not isolated to South Wimbledon.
The mortgage over my property is with Kent Reliance for my property in South Wimbledon. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
You must advise Kent Reliance before renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel solicitor.
Me and my brother have a renovated Edwardian property in South Wimbledon. Conveyancing practitioner acted for me and Coventry Building Society. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in South Wimbledon and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing lawyer who conducted the purchase.
The estate agent has sent us the confirmation of our purchase of a new build flat in South Wimbledon. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in South Wimbledon
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please confirm the Lease plans are surveyor prepared. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants.
How easy is it to change a solicitor as I need to find a South Wimbledon based firm who is on the lender conveyancing panel. How simple is it to change conveyancer?
In the event that you have not formally instructed a conveyancer to start work and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in South Wimbledon that you're considering.