My fiance and I are looking to purchase a home in Belgravia and have instructed a Belgravia conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Barclays have this morning contacted us to inform me that they have now hit a problem as our Belgravia conveyancer is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is normal for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Belgravia solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Do commercial conveyancing searches disclose proposed roadworks that could affect a commercial land in Belgravia?
Many commercial conveyancing solicitors in Belgravia will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Belgravia. The report 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 Belgravia.
For each commercial conveyancing transaction in Belgravia it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Belgravia commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Belgravia.
I have justbecome aware that Arc property Solicitors have closed. They carried out my conveyancing in Belgravia for a purchase of a leasehold flat 12 months ago. How can I check that my home is in my name in the name of the former proprietor?
The easiest method to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Belgravia conveyancing specialists.
I'm purchasing my first flat in Belgravia with a mortgage from Nationwide Building Society. The builders would not move on the amount so I negotiated 6k of additionals instead. The property agent suggested that I not disclose to my solicitor about this extras as it may impact my mortgage with the lender. 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've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a quick, no chain conveyancing. Belgravia is where the house is located. Can you shed any light on this issue?
Flying freeholds in Belgravia are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Belgravia you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Belgravia may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My company is wishing to lease a unit on the high street. Can you recommend conveyancers offering no-sale-no fees for commercial conveyancing in Belgravia for less than 1500k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Belgravia, including the disposal and acquisition of businesses as well as simply property. Whether you are intending to buy or sell a shop, pub, restaurant, office, retail unit or a complete business we will find you the right lawyer. As for the costs these will vary based on the structure and nuances of the proposed transaction. Please provide us with your contact information or call us so that we can supply you with a fixed commercial conveyancing calculation.