I have just been advised by my broker that my West London solicitor is not on the lender Solicitor panel. What can I do to be certain whether this is indeed the case?
You need to call your West London conveyancer. It is reasonable to expect your lawyer to inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
My conveyancer has identified a a problem with the lease for the apartment we are purchasing in West London. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our property lawyer says that he must check that the mortgage company is willing to move forward with this solution. Who is the client here, us or the lender?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. These conveyancing instructions must be adhered to.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to take this when purchasing a house in West London? or I am told that there is historic law that could mean that owners of property residing in a parish church boundary may be liable to contribute towards repairs to the chancel in proximity to the church. Is this suitable for conveyancing in West London?
Unless a previous purchase of the property took place after 12 October 2013 you could assume that conveyancing practitioners carrying out conveyancing in West London to continue to recommend a chancel search and or insurance against a claim.
How does conveyancing in West London differ for new build properties?
Most buyers of new build property in West London approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is constructed. This is because developers in West London usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in West London or who has acted in the same development.
I have been on the look out for a flat up to £305k and identified one near me in West London I like with open areas and railway links nearby, the downside is that it only has 49 years on the lease. There is not much else in West London suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the shortness of the lease will be a potential deal breaker. Discount the offer by the expected 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 could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
I'm buying a flat in West London. I can find my conveyancer's company on the Law Society's list, but I can't locate my lawyer's name as listed on the regulator's website. Is this a big problem?
Not all staff in the company must be listed by the regulator. As long there is someone qualified to 'oversee' the conveyancing, the actual day-to-day activity can be undertaken by unqualified staff.