We are purchasing a 2 bedroom apartment in Chelsea with a mortgage. We would like to retain our Chelsea conveyancer, however the mortgage company advise she’s not on their "panel". We have to appoint one of the bank panel firms or continue with our Chelsea conveyancing practitioner as well as pay for one of their panel ones to act for them. This feels very unfair; are we not able to require that the lender use our Chelsea lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Chelsea conveyancing solicitor to apply to be on the conveyancing panel.
I am being advised by my solicitor that restrictive coveneant insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Chelsea?
The right level of restrictive coveneant indemnity insurance depends on who your lender is. It would differ for example between Nationwide Building Society and Chelsea Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Chelsea solicitor on the Co-operative panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
I am due to exchange contracts on my house. I had a double glazing fitted in May 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Yorkshire BS are being difficult. The Chelsea solicitor who is on the Yorkshire BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Yorkshire BS are insisting on a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS 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.
Over the last few months I have been searching for a flat up to £195,000 and found one close by in Chelsea I like with a park and transport links in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in Chelsea for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
Is there anything unique about your site and alternative online quote calculators when it comes to conveyancing in Chelsea?
At this site receive a fixed fee costs illustration via a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Chelsea. As opposed to estate agents and brokerage sites we are not in the business of charging firms a fee if you select them for your conveyancing in Chelsea
In surfing the web for the words conveyancing in Chelsea it reveals numerous conveyancersin the area. How do I determine which is the suitable conveyancing solicitor for me?
The preferential method of choosing a suitable conveyancer is via personal referral, so ask colleagues and relatives who have bought a property in Chelsea or a respected estate agent or financial adviser. Fees for conveyancing in Chelsea vary, so it's a good idea to request at least three estimates from different law firms. Dont forget to clarify that the charges are guaranteed not to increase.
How much experience do your Chelsea conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Chelsea conveyancing lawyers help thousands of people move home every year and helped lots of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Chelsea conveyancers have worked on recent similar cases.