My partner and I are purchasing our first property. Our lawyer has contact usto check if we wish to order extra conveyancing searches. We are really unsure what's recommended for conveyancing in Chalk Farm
The scope of Chalk Farm conveyancing searches should be triggered based primarily on the premises, the location, the possibility of any of these risks, your knowledge of the area and risks, your overall appetite to risk. What matters is that you adequately comprehend what information the searches could give you. You may then decide if you consider that you need that information. Where you are in doubt, ask the conveyancer to explain.
Forgive me if this question is silly but I am unexperienced as FTB of a two bedroom flat in Chalk Farm. Do I receive the keys to the premises on the completion date from my conveyancer? If so, I will appoint a High Street conveyancing solicitor in Chalk Farm?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's lawyers, and once they have received this, you will be able to pick up the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
Two weeks ago we had a mortgage agreed in principle with Leeds Building Society. Chalk Farm conveyancing practitioners have been chosen. How long does it take for Leeds Building Society to issue the offer to the solicitor?
There is no definitive answer here. Have Leeds Building Society conducted the survey? Have you informed Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am due to exchange contracts on my house. I had a double glazing fitted in September 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Leeds Building Society are being problematic. The Chalk Farm solicitor who is on the Leeds Building Society conveyancing panel is saying indemnity insurance will be fine but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Chalk Farm differ for new build properties?
Most buyers of new build property in Chalk Farm approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Chalk Farm usually purchase the real estate, 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 conveyancers 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 Chalk Farm or who has acted in the same development.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Chalk Farm I like with amenity areas and railway links in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Chalk Farm for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the shortness of the lease will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
Is it possible to transfer to a new firm as I need to appoint a firm on the Lloyds TSB Bank conveyancing list. I instructed a family conveyancing solicitor in Chalk Farm round the corner but the firm is not accepted by Lloyds TSB Bank
It would be our pleasure to assist you select a conveyancing solicitor in Chalk Farm on the Lloyds TSB Bank panel. Please note that the property lawyers that we work with do not pay us fee if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Chalk Farm. In making use of search facility on this website, you can scrutinise fees for conveyancing solicitors in Chalk Farm and beyond.
Should I use a Chalk Farm conveyancing lawyer who is local to the property I am purchasing? We have a good friend who can conduct the conveyancing however his firm is located approximately 350kilometers drive away.
The primary upside of using a local Chalk Farm conveyancing practice is that you can pop in to sign documents, present your ID and pester them where appropriate. They will also have local knowledge which is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and on the whole were happy that must outweigh using an unfamiliar Chalk Farm conveyancing solicitor solely due to them being based in the area.