My fiance and I are planning to purchase a property in Hadley Wood and are in fact using a Hadley Wood conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Santander have this morning contacted us to inform me that there is now an issue as our Hadley Wood lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also act for the purchaser's lender. 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 bank's conveyancing panel and you may continue to use your own Hadley Wood solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
I am helping my niece sell her property in Hadley Wood. Will the solicitor commission the energy performance certificate or do I organise this?
Following the demise of Home Packs, EPC’s was maintained a required element of moving property. An energy assessment should be to hand before the property is advertised. This is not a task that law firms normally organise. If you are instructing a Hadley Wood conveyancing lawyer they may be willing to arrange energy assessments given their contacts with long established Hadley Wood energy assessors
A relative advised me that in buying a property in Hadley Wood there could be various restrictions affecting the ability to carry out external changes to a property. Is this right?
We are aware of anumerous of properties in Hadley Wood which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Hadley Wood should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Last month we had a mortgage agreed in principle with Nottingham. Hadley Wood conveyancing practitioners were instructed. What is the average time that one could expect to receive a mortgage offer from Nottingham?
Some lenders take longer than others. Have Nottingham done the survey? Have you advised Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Just bought a terraced house in Hadley Wood , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Hadley Wood conveyancing solicitor has been very slow, so I want to check the registration formalities are addressed.
As far as conveyancing in Hadley Wood registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timeframes can adjust according to the party submitting the application, whether there are errors and whether the Land registry must send notices to any third persons or bodies. As of today approximately 80% of such applications are fully dealt with within two weeks but occasionally there can be longer delays. Registration occurs once the new owner has moved in to the premises therefore 'speed' is not typically top priority but if there is a degree of urgency associated with the registration then you or your conveyancer could communicate with the Registry to express the reasoning for an expedited registration.
I am purchasing my first flat in Hadley Wood benefiting from help to buy. The developers would not reduce the price so I negotiated 6k of fixtures and fittings instead. The house builders rep advised me not to tell my conveyancer about the side-deal as it could adversely affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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 straight forward, chain free conveyancing. Hadley Wood is where the house is located. Is there any advice you can give?
Flying freeholds in Hadley Wood are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hadley Wood you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hadley Wood 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.
Am I best advised to choose a Hadley Wood conveyancing practitioner who is local to the property I am hoping to buy? An old friend can execute the conveyancing but her office is over three hundred kilometers away.
The primary upside of using a local Hadley Wood conveyancing firm is that you can drop in to sign documents, present your ID and pester them if necessary. Having local Hadley Wood know how is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and the majority were content that must surpass using an unfamiliar Hadley Wood conveyancing lawyer solely due to them being local.