My husband and I are buying a newly constructed apartment in Ham and my solicitor is advising me that she is duty bound to the lender to disclose incentives from the seller. I am on a tight deadline to exchange and I don't want to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Please explain the implications if my lawyer’s firm is expelled from the Nationwide Solicitor panel ahead of completing my conveyancing in Ham?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My wife and I purchasing a terrace house in Ham. Our aim is to carry out an extension to the side at the house.Will the conveyancing process involve investigations to ascertain if these works are permitted?
Your conveyancer will review the registered title as conveyancing in Ham can sometimes identify restrictions in the title documents which prohibit categories of works or necessitated the consent of another owner. Many extensions call for local authority planning consent and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
We have agreed to purchase a house in Ham. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender TSB be concerned?
As your lender is TSB your lawyer must comply with the conveyancing instructions contained in Section two of UK Finance Lenders’ Handbook for TSB. The CML Handbook stipulates minimum conditions for solar panel roof-space leases, and solicitors are required to report to TSB where a lease fails to comply with these requirements. The specifications relate to the installation of panels on properties nationwide and is not restricted to Ham.
Barclays have agreed my home loan in principle, my offer on a house in Ham has been accepted, what happens next?
The estate agent will need to know who your solicitors are (make sure the property lawyers are on the lender’s approved list). Call up Barclays or your financial adviser and complete any outstanding paperwork. Barclays will sellect a valuer who will get in contact with the selling agent or vendor to arrange a time for the valuation to occur. Once carried out (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Barclays will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Ham.
I have been told that property searches are a common reason for hinderance in Ham conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in Ham.
Due to the encouragement of my in-laws I had a survey completed on a house in Ham before retaining solicitors. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some lenders will not give a mortgage on a flying freehold house.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ham. Conveyancing will be smoother if you use a solicitor in Ham especially if they are familiar with such properties in Ham.
I'm refinancing my existing house to a buy to let loan with Bank of Scotland and I will use the rest of the raised equity as a deposit on further property. The neighborhood we are looking at is Ham. Will your solicitors be able to act for the two banks and link together the two deals?
Do use our search tool on this page to be sure that the lawyers are on the appropriate lender panels. Having checked that they are the lawyer will be able to simultaneously deal with the two transactions but you should have a chat with you conveyancer and make apparent your expectations and needs.