I have paid off my mortgage with UBS. I assume I don't need a Hampton Wick conveyancing practitioner on the UBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS 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 UBS mortgage from the register. UBS, 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 UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Hampton Wick solicitor - who is on the TSB conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Hampton Wick postcode. As you are getting a mortgage with TSB, you could contact them to see if they have a list of approved surveyors in Hampton Wick.
Coventry BS have agreed my home loan in principle, my bid on a property in Hampton Wick has been agreed to, what happens next?
Your property agent will wish to be advised as to your solicitor's details (ensure that the property lawyers are on the lender’s panel). Call up Coventry BS or the financial adviser and finalise any appropriate paperwork. Coventry BS will instruct a valuer who will get in touch with the estate agent or vendor to arrange an appointment. Once carried out (assuming no problems) it takes about a week to receive the mortgage offer. Coventry BS will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Hampton Wick.
Will our conveyancer be raising questions about flooding during the conveyancing in Hampton Wick.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Hampton Wick. There are those who purchase a house in Hampton Wick, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to offer advice on flood risk, but there are a numerous searches that may be initiated by the buyer or by their lawyers which will give them a better understanding of the risks in Hampton Wick. The conventional set of completed inquiry forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the owner to find out whether the property has suffered from flooding. In the event that the premises has been flooded in past which is not notified by the vendor, then a purchaser may issue a legal claim for losses as a result of such an inaccurate answer. The buyer’s conveyancers should also commission an environmental search. This will disclose whether there is a recorded flood risk. If so, more detailed inquiries should be carried out.
I'm buying a new build house in Hampton Wick with a loan from Chelsea Building Society. The sellers refused to move on the amount so I negotiated £7000 of extras instead. The property agent advised me not to tell my solicitor about the extras as it will jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
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.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what should have been a simple, no chain conveyancing. Hampton Wick is the location of the property. Is there any guidance you can give?
Flying freeholds in Hampton Wick are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hampton Wick you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hampton Wick 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.
I today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Hampton Wick. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Hampton Wick ?
The majority of houses in Hampton Wick are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Hampton Wick so you should seriously consider looking for a Hampton Wick conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Hampton Wick conveyancing firm to act on my behalf?
Most certainly. We are happy to put you in touch with a Hampton Wick conveyancing firm who can help.
An example of a Lease Extension case for a Hampton Wick property is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.
Are there any compelling advantages to choosing a local solicitor in Hampton Wick
A significant proportion of house movers in Hampton Wick select a nearby high street property lawyer so that they can visit if they have problems, and to sign documents rather than relying on the Royal Mail.
We would argue that there is a distinct advantage in using a conveyancer nearby to a property you are planning to purchase, due to the in-depth knowledge of the region and potential local concerns - nevertheless this is moot. Most conveyancers conduct their communications by way of email and could be anywhere in the world.