I am getting closer to an exchange on a flat in Wandsworth and my parents have sent the exchange deposit to my conveyancer. I am now told that as the deposit has not come from me my lawyer needs to disclose this to my bank. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
The conveyancing practitioner is duty bound to clarify with lender to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
I am purchasing a terraced house in Wandsworth. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Wandsworth you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Wandsworth.
Me and my partner are buying a house in Wandsworth. It might be a silly question but how we can trust a conveyancer? On the day of competition we have to put funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am being told by my conveyancer that lack of building regulations insurance is required on my purchase. What is the level of cover for Wandsworth conveyancing?
The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between Halifax and The Mortgage Works. Conveyancing lawyers as opposed to members of the public take out such insurances.
We have agreed to purchase a house in Wandsworth. An unusual aspect is that the roof has a solar panel. Yorkshire BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Yorkshire BS your lawyer must check the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for Yorkshire BS. The Council of Mortgage Lenders’ Handbook contains minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Yorkshire BS where a lease fails to comply with these provisions. The conditions relate to the installation of panels on properties nationwide and is not limited to Wandsworth.
Do commercial conveyancing searches disclose impending roadworks that could affect a commercial property in Wandsworth?
Many commercial conveyancing solicitors in Wandsworth will conduct a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Wandsworth. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Wandsworth.
For each commercial conveyancing transaction in Wandsworth it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may cause delays to Wandsworth commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Wandsworth.
About to purchase a new build flat in Wandsworth. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Wandsworth
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Due to the encouragement of my in-laws I had a survey completed on a house in Wandsworth in advance of instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some lenders will not grant a mortgage on this type of property.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Wandsworth. Conveyancing may be slightly more expensive based on your lender's requirements.