Our lawyer has discovered a a legal deficiency with the lease for the property we are purchasing in St John's Wood. The other side have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer has advised that he must be satisfied that the lender is happy with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.
Having sold my house in St John's Wood last May yet the purchaser is Skype messaging daily to moan that their lawyer needs to hear from mine. What should have happened now that I have sold?
After completion of your disposal your solicitor is committed to forward the transfer documentation and all supplemental paperwork to the buyer’s lawyers. If applicable, your conveyancer must also confirm that the legal charge in favour of the lender has been discharged to the buyers conveyancers. There are no post completion formalities specific conveyancing in St John's Wood.
This question may be naive but I am wet behind the ears as FTB of a garden flat in St John's Wood. Do I receive the keys to the property on completion from my conveyancer? If so, I will instruct a local conveyancing solicitor in St John's Wood?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the vendor’s solicitors, and once they have received this, you should be called to pick up the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
I happen to be the sole beneficiary of my late grandmother’s will and I have everything in my name alone, including the house in St John's Wood. The St John's Wood property was put into my name in June. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', meaning my property ownership may be regarded the same way as if I'd bought the property in June. Is the property unsalable for six months?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. many banks would take a pragmatic view as this clause primarily exists to pick up on the purchase and immediately sell or the flipping of properties.
My partner and I are in the process of looking at houses in St John's Wood and I am now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a mortgage with Kent Reliance.
You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are seeking a mortgage with Kent Reliance, ask your prospective lawyers if they are on the Kent Reliance conveyancing panel otherwise they can't do the mortgage legal work.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, no chain conveyancing. St John's Wood is the location of the property. Can you offer any assistance?
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 must be sure that your lawyer goes 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.
As co-executor for the estate of my grandmother I am disposing of a property in Neath but I am based in St John's Wood. My lawyer (approximately 250 miles from mehas requested that I execute a statutory declaration prior to completion. Can you recommend a conveyancing lawyer in St John's Wood to witness this legal document for me?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are based in St John's Wood
My husband and I hope to purchase our first home in St John's Wood. Conveyancing lawyer already selected. The mortgage adviser suggested that a survey is not necessary as the property was only built in 2002.
The bare minimum you need a Home Buyer's Report. As the property was constructed over a decade ago the property will be without a warranty, so you would be well advised not to take a risk. For a property that age with no signs of defects a Home Buyer's report could be enough. The report should highlight any obvious issues and recommend further investigation where relevant. Where there are any indications of problems obtain a comprehensive Building Survey from the beginning.