We are about to exchange contracts for a ground floor flat in St James's. We have hit a problem. The loan offer with HSBC Bank runs out on 30/6/2021 but the vendors are insisting on a completion date of 2/7/2021. Can one prolong the loan expiry date?
The best person to deal with your issue is your lawyer who should calculate whether he or she is should be discussing with the mortgage company, owner’s conveyancers, property agents or conceivably all three taking into account the circumstances your house move to date.
Do commercial conveyancing searches reveal impending roadworks that could affect a commercial premises in St James's?
Its becoming the norm that commercial conveyancing solicitors in St James's will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in St James's. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in St James's.
For each commercial conveyancing transaction in St James's it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could cause delays to St James's commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in St James's.
How does conveyancing in St James's differ for newly converted properties?
Most buyers of new build premises in St James's contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because new home sellers in St James's tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in St James's or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. St James's is where the house is located. Can you shed any light on this issue?
Flying freeholds in St James's are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in St James's you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St James's may ascertain 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.
I am thinking of appointing a conveyancing lawyer in St James's for my house move. Can I review a firm’s complaints history with the legal regulator?
You can search for presented Solicitor Regulator Association (SRA) decisions arising from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. For records Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The regulator may recorded telephone calls for training requirements.
Our conveyancer in St James's has uncovered a a legal deficiency with the lease for the apartment we are buying in St James's. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor has advised that as he is on the lender conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the mortgage company?
Just because you have a mortgage offer from the lender does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your St James's conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the mortgage company are the client. The appropriate lender requirements have to be complied with by the mortgage company conveyancing panel who has to balance acting for you and the mortgage company