My wife and I are purchasing a apartment in Barnes. It might be a silly question but how we can trust a solicitor? On the day of competition we will need to deposit money into their account. What protection do we have from them run away with our money?
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.
Intending to buy a maisonette in Barnes. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Barnes conveyancer is on the UBS conveyancing panel.
After what feels like an age I have had an offer on an apartment in Barnes accepted, but there is a chain. The sellers have put an offer on a flat, however it’s not yet agreed to, and have viewings of other apartments booked. I have selected a bricks and mortar conveyancing solicitor in Barnes. What should be my next step? At what stage do I apply for the mortgage with Nationwide?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of one thousand pounds, then survey, Barnes conveyancing search fees, etc). The first thing to do is ensure that your conveyancer is on the Nationwide conveyancing panel. Concerning the next phase this very much dictated by the circumstances of your case, motivation for the property and on the state of the market. During a rising market some purchasers will apply for the mortgage with Nationwide and arrange for the valuation and only if it comes back ok would they ask their property lawyer to proceed with the conveyancing in Barnes.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Barnes?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Barnes. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am purchasing my first flat in Barnes with a mortgage from Accord Mortgages Ltd. The sellers would not move on the amount so I negotiated 6k of additionals instead. The sale representative told me not disclose to my solicitor about the extras as it may impact my mortgage with Accord Mortgages Ltd. Do I keep my lawyer in the dark?.
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.
Due to the guidance of my in-laws I had a survey completed on a property in Barnes before retaining solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some banks may refuse to give a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. Should you wish to call us we can check 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 Barnes. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Barnes to see if the conveyancing will be more expensive.
Do I need to be concerned that 3rd parties that I am dealing with are suggesting a web based conveyancing firm as opposed to a High Street Barnes conveyancing firm?
As is the case with many service providers, often input from family and friends can be extremely useful or valuable. Yet there are many players in a conveyancing matter; estate agents, mortgage brokers and mortgage companies may suggest solicitors to retain. On occasion the solicitors might be known to one of the organisations as experts in their field, but occasionally there behind the scenes financial incentive behind the recommendation. You have the right to choose your own conveyancer. Don't forget that many mortgage providers operate an approved list of conveyancers you are obliged to use for the lender aspect of your house move.
I'm remortgaging a house in Barnes. I have found my conveyancer's company on the CLC list, but I can't see my conveyancer's name on the list. Is this a big problem?
Not all staff in the company must be listed by the regulator. Provided there is a manager qualified to 'oversee' the conveyancing, the actual day-to-day activity can be conducted by unqualified staff.