My wife and I are purchasing a newly built duplex in Stanmore and my conveyancer is informing me that she is duty bound to the bank to reveal incentives from the builder. I am under pressure to exchange contracts and I don't want to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do lawyers ask for money on account for conveyancing in Stanmore?
If you are buying a property in Stanmore your lawyer will request that you put them with monies to cover the search fees. Generally this is requested to cover the fees of the conveyancing searches. When the deposit is as part of the total price then this should be required immediately ahead of exchange of contracts. The closing balance that is needed should be sent to your lawyer shortly before completion.
I have been referred to a conveyancing solicitor in Stanmore. I I am struggling to find out whether they are accepted on the National Westminster Bank conveyancing panel. Can you or the lender confirm if they are on the panel?
You should phone your solicitor and enquire if they are on the lender panel. Otherwise you should get in touch with National Westminster Bank who may be able to help.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Stanmore is the location of the property. Can you offer any opinion?
Flying freeholds in Stanmore are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stanmore you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stanmore may determine 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 practitioner in Stanmore for my home move. Is there any facility to review a solicitor's record with the legal regulator?
Anyone may see documented Solicitor Regulator Association (SRA) determinations resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. For records Pre 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training reasons.
What advice can you give us when it comes to choosing a Stanmore conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Stanmore conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Stanmore conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:
Can they put you in touch with clients in Stanmore who can give a testimonial?
I am the proprietor of a a ground floor purpose built flat in Stanmore. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
Most definitely. We are happy to put you in touch with a Stanmore conveyancing firm who can help.
An example of a Lease Extension case for a Stanmore property is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case affected 1 flat. The remaining number of years on the lease was 70.25 years.