As I am unsure how the conveyancing process works what is the most important number one tip you can impart about purchase conveyancing in Swiss Cottage?
Not many law firms or advisers will tell you this but conveyancing in Swiss Cottage and elsewhere in England and Wales is an adversarial experience. In other words, when it comes to conveyancing there is an abundance of opportunity for conflict between you and others involved in the home moving process. For instance, the seller, property agent and sometimes the lender. Choosing a law firm for your conveyancing in Swiss Cottage should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the process whose responsibility is to look after your best interests and to keep you safe.
There is a worrying emergence of a "blame" culture- someone must be at fault for the process taking so long. We recommend that you must always trust your solicitor above all other players in the conveyancing process.
I am thinking of mortgaging my home in Swiss Cottage, does my lawyer need to be on the TSB Conveyancing panel?
There is nothing to stop you using your solicitor, but TSB will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Is it the case that all Swiss Cottage solicitor practices on the UBS conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the UBS conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many mortgage companies do allow licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Swiss Cottage building society branch on a couple of occasions and was told it wasn't a problem and they will lend. My Swiss Cottage conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend based on their published requirements. I simply don't know who is right.
The solicitor has to comply with the CML Handbook Part 2 provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
After shopping around on the internet I have found a Swiss Cottage conveyancer having checked that they are on the Coventry BS conveyancing panel. Does my lawyer arrange the survey of the property?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Swiss Cottage postcode. As you are getting a mortgage with Coventry BS, you could contact them to see if they have a list of approved surveyors in Swiss Cottage.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Swiss Cottage. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Swiss Cottage
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one close by in Swiss Cottage I like with amenity areas and railway links in the vicinity, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Swiss Cottage in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I have been informed by numerous estate agents to expect six to eight weeks for Swiss Cottage conveyancing to complete.This was 3 ago. The property information was only sent to my conveyancer yesterday so now does it countdown?
No definitive time frame exists for conveyancing in Swiss Cottage. Conveyancing is subject to too much unpredictabilities. Swiss Cottage conveyancing searches alone may take up to month before they are received.