The Hanwell conveyancing firm handling our Hanwell conveyancing has discovered a difference when comparing the surveyor’s assumptions in the valuation survey and what is revealed within the legal papers for the property. My lawyer says that he needs to ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance right?
Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
When does exchange of contracts take place for domestic conveyancing in Hanwell and do I need to be at the lawyers office?
Where you are in close proximity to one of the conveyancing solicitors in Hanwell you are invited in to sign documents. However, the law practices we work with provide a national conveyancing service and provide just as detailed and professional a job for you when dealing with you electronically. The signing of the contract is not the point of no return. Signing on the dotted line is just a prerequisite for the solicitor to officially exchange when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Hanwell)to be in the office available at the end of the phone to exchange contracts.
My conveyancer has informed me that lack of right of way insurance is necessary on my purchase. What is the level of cover for Hanwell conveyancing?
The right level of lack of right of way indemnity insurance should be dictated by who your lender. It would differ for example between Lloyds TSB Bank and Chelsea Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
Is it the case that all Hanwell solicitor practices on the RBS conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the RBS approved list of solicitors they would need to be overseen by the SRA. The majority of lenders do allow licenced conveyancers on their panel and in such a situation the organisation would be governed by the Council of Licensed Conveyancers.
Our offer on a house in Hanwell has been accepted, but there is a chain. The vendors have placed an offer on on an apartment, but it’s not yet agreed to, and are looking at other properties booked. I have chosen a bricks and mortar conveyancing solicitor in Hanwell. What should be my next step? At what point do I apply for the mortgage with Kent Reliance?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then valuation, Hanwell conveyancing search charges, etc). The first thing to do is ensure that your solicitor is on the Kent Reliance conveyancing panel. Concerning the subsequent phase this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot market some purchasers would apply for a home loan with Kent Reliance and arrange for the valuation and only if it was satisfactory would they pay their property lawyer to proceed with the conveyancing in Hanwell.
How does conveyancing in Hanwell differ for newly converted properties?
Most buyers of new build residence in Hanwell come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Hanwell typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Hanwell or who has acted in the same development.
I have recently realised that I have Fifty years remaining on my flat in Hanwell. I am keen to extend my lease but my landlord is absent. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have used your best endeavours to locate the lessor. For most situations an enquiry agent may be helpful to carry out a search and to produce a report which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Hanwell.
I am the leaseholder of a ground floor flat in Hanwell. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Hanwell residence is 6 Jessamine Road in August 2013. The Tribunals valuation (as annexed to the decision) calculated the amount payable as £18,355 for the freehold reversion This case was in relation to 2 flats. The unexpired term was 72.39 years.
I have miscalculated my finances and am a few thousand pounds short a 10% deposit on my house purchase in Hanwell , but I still want to exchange. What can I do?
One option is to try and agree a lesser deposit. Most sellers will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment