My partner and I are acquiring a new build duplex in West London and my conveyancer is advising me that she has to the bank to disclose incentives from the developer. The Estate Agents are hassling me to sign contracts and I don't want to prolong matters. 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 lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
If you had a top tip for selecting a conveyancing solicitor in West London what would it be?
We would encourage you not to base your choice on the cheapest West London conveyancing costs illustration. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
The formalities of my remortgage has taken place for my property in West London. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
TSB have agreed my home loan in principle, my bid on a flat in West London has been accepted, what happens next?
Your estate agent will need to be informed of your conveyancer's details (make sure the conveyancers are on the bank’s panel). Call up TSB or your broker and complete any relevant forms. TSB will appoint a valuer who will get in contact with the estate agent or owners to book a time for the valuation to happen. Once conducted (assuming no problems) it takes about a week to receive the mortgage offer. TSB will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in West London.
I'm purchasing a new build house in West London with a loan from National Westminster Bank. The developers refused to move on the amount so I negotiated £7000 of additionals instead. The property agent advised me not disclose to my lawyer about the extras as it would put at risk my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey carried out on a property in West London ahead of instructing solicitors. I have been told that there is a flying freehold element to the house. My surveyor has said that some banks tend not grant a loan on this type of property.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. Should you wish to telephone us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in West London. Conveyancing will be smoother if you use a solicitor in West London especially if they are accustomed to such properties in West London.
Taking into account that I will soon spend 450k on 3 bedroom house in West London I would like to talk to a solicitor concerning thetransaction ahead of instructing the firm. Is this something that you can arrange?
This is something that we encourage - we would be delighted to talk to you we do not take any clients on without you liaising with the conveyancer due to be doing your conveyancing in West London.There is no ‘factory style conveyancing’ - each client is an important person, not a matter reference. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in West London should be the figure that you end up paying.
If instructed can a conveyancer remove a person from the title of my home in West London ?
Subtracting or adding someone to the title of your home is relatively straightforward. You’ll need to appoint a lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a property lawyer