Should conveyancers request money on account for conveyancing in St John's Wood?
Where you are retaining lawyers for conveyancing in St John's Wood your lawyer will request that you place them with monies to cover the the cost of the conveyancing searches. Ordinarily this is called for to cover the fees of the Local Authority Search. When the deposit is payable against the sale price then this will be needed immediately in advance of contracts are exchanged. The final balance that is needed should be transferred shortly before completion.
I have been told that property searches are the main cause of stalling in St John's Wood conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to feature in any holding up conveyancing in St John's Wood.
My wife and I own a renovated Georgian house in St John's Wood. Conveyancing lawyer represented me and Bank of Ireland. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in St John's Wood and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with your conveyancing solicitor who conducted the purchase.
How does conveyancing in St John's Wood differ for new build properties?
Most buyers of new build residence in St John's Wood approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is ready to move into. This is because builders in St John's Wood 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 accustomed to new build conveyancing in St John's Wood or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. St John's Wood is where the house is located. Is there any advice you can give?
Flying freeholds in St John's Wood are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside St John's Wood 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 John's Wood 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 John's Wood for my home move. Can I check a firm’s record with the legal regulator?
Members of the public may find published Solicitor Regulator Association (SRA) determinations stemming from inquisitions commenced on or after Jan 2008. Visit Check a solicitor's record. To find details Pre 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA may monitor telephone calls for training reasons.