My wife and I are purchasing property in Totterdown. My property lawyer is not on the lender approved panel. Can I still appoint my Totterdown conveyancing solicitor notwithstanding that they are not on the mortgage company panel?
Various options include
- Carry on with your existing Totterdown conveyancer but your mortgage company will undoubtedly instruct a property lawyer from their approved panel. The net result is additional fees and potential frustration.
- Appoint a new lawyer to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Convince your property lawyer to do everything possible to join the bank’s panel of solicitors
Our god-son is purchasing a newly built flat in Totterdown with a mortgage from Kent Reliance. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Kent Reliance conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Kent Reliance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I require quick conveyancing in Totterdown as I am under a deadline to sign on the dotted line inside 2 weeks. Luckily I do not need a mortgage. Can I decline from having conveyancing searches to save money and time?
As you are not taking a mortgage you are at free not to have searches conducted although no law firm would recommend that you don't. With lots of history conveyancing in Totterdown the following are instances of what can be revealed and adversely affect the marketability of the property: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...
Me and my brother purchased a terraced Georgian property in Totterdown. Conveyancing practitioner represented me and Nottingham Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the exact same address. Is it worth asking Nottingham Building Society to clarify?
You need to review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Totterdown and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing practitioner who completed the work.
Should I be suspicious about 3rd parties that I am dealing with are encouraging me to use a factory type conveyancing firm as opposed to a High Street Totterdown conveyancing practice?
As with lots of professional services, often recommendations from connections can be most helpful. But there are numerous parties with a vested interest in a conveyancing matter; estate agents, mortgage brokers and lenders might all suggest solicitors to instruct. On occasion the lawyers might be known to one of the organisations as one of the best in their field, but sometimes there exists a financial incentive behind the endorsement. You are at liberty to choose your preferred lawyer. However, bear in mind that most mortgage providers specify a panel list of solicitors you have to use for the mortgage aspect of your conveyancing.
Planning to sign contracts shortly on a leasehold property in Totterdown. Conveyancing solicitors have said that they are sending me a report next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Totterdown should include some of the following:
It needs to be made clear to you whether the lease permits you to alter or upgrade anything in the flat- you must know whether any restrictions applies to all alterations or just structural alteration, and whether permission is required Alterations to the flat Where does the liability rest for repairing the window frames Rent payments - what is due and what the invoice dates are, and also know whether this is subject to change The physical extent of the property. This may be the property itself but may include a loft or basement if relevant.
Totterdown Conveyancing for Leasehold Flats - Sample of Queries before buying
What restrictions are there in the Totterdown Lease? In the main the outlay for major works tend not to be included within maintenance charges, albeit that there some managing agents in Totterdown obliged tenants to pay into a sinking fund created for the specific purpose of establishing a fund for larger works. Best to be warned if fixing the lift or some other major work is pending that will be shared between the tenants and will materially increase the the service charges or require a one off invoice.