I have just been advised by my mortgage broker that my Cricklewood lawyer is not on the bank Solicitor panel. What can I do to check?
The sensible course of action for you to take is to contact your Cricklewood 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 approved list of lawyers for your bank.
Due to complete my purchase in Cricklewood next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These obligations are not limited to conveyancing in Cricklewood.
Me and my brother own a semi-detached Edwardian house in Cricklewood. Conveyancing practitioner acted for me and Halifax. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold with the matching property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cricklewood and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing solicitor who conducted the conveyancing.
I'm purchasing my first flat in Cricklewood with the aid of help to buy. The developers would not reduce the price so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not disclose to my solicitor about the deal as it would impact my loan with the lender. Is this normal?.
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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Cricklewood is where the house is located. Can you offer any advice?
Flying freeholds in Cricklewood are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cricklewood you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cricklewood may determine 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 husband and I are novice buyers - had an offer accepted, but the estate agent advised that the owners will only move forward if we use their chosen solicitors as they want a ‘quick sale’. Our preferred option is to instruct a family conveyancer with experience of conveyancing in Cricklewood
It is highly unlikely the sellers are behind this. Should the owner desire ‘a quick sale', turning down a motivated purchaser is going to damage their objectives. Avoid the agents and go straight to the owners and make sure they comprehend that (a)you are keen to buy (b)you are ready to go, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)but you intend to instruct your preferred Cricklewood conveyancing lawyers - as opposed tothose that will earn their negotiator at the agency a referral fee or meet his conveyancing figures demanded by head office.