My mortgage broker requires my St John's Wood law firm’s panel reference for the Santander conveyancing panel. How do I find this out. I have e-mailed my local St John's Wood branch but they cant find it on their system.
You are best placed to get this information from your St John's Wood property lawyer . Most St John's Wood law practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
What does my ID and proof of funds have anything to do with my conveyancing in St John's Wood? Is this really warranted?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to check the ID of the potential client they are dealing with prior to agreeing to accepting their conveyancing retainer. The Terms of Engagement that you need to sign should stipulate this. Your lender will also require certain documents to be checked. Where you are unwilling to hand over identification documents, your lawyer would not be able to act for you.
How does conveyancing in St John's Wood differ for newly converted properties?
Most buyers of new build property in St John's Wood contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is constructed. This is because developers in St John's Wood usually purchase the site, 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 conveyancing solicitors 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 John's Wood or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one round the corner in St John's Wood I like with open areas and station in the vicinity, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in St John's Wood suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
In my capacity as executor for the estate of my father I am disposing of a property in Newport but I am based in St John's Wood. My lawyer (approximately 200 miles awayrequires that I sign a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing practitioner in St John's Wood who can witness and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are located in St John's Wood
Why do St John's Wood conveyancing charges are higher for leasehold and freehold properties?
There is always increased work required for leasehold conveyancing. St John's Wood has many leasehold properties. There is more hours involved in the purchase: for example, the lease and leasehold information (including current service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.