My partner and I are acquiring a newly built flat in Hyde Park and my conveyancer is informing me that she is duty bound to the mortgage company to disclose incentives from the developer. I am on a tight deadline to exchange contracts and my preference is not to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am remortgaging my home in Hyde Park, does my lawyer have to be on the Virgin Money Conveyancing panel?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
The deeds to my home are lost. The lawyers who did the conveyancing in Hyde Park 4 years ago no longer exist. What are my options?
As long as you have a registered title the details of your proprietorship will be evidenced by the Land Registry under a Title Number. It is easy to carry out a search at the Land Registry, find your house and get current copies of the Registered Entries for less than a fiver. Where the title is Leasehold then the Land Registry will usually hold a certified duplicate of the Registered Lease and again, a copy can be obtained for a small fee.
Just had an offer accepted on a new build apartment in Hyde Park. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Hyde Park
-
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are architect prepared.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a quick, chain free conveyancing. Hyde Park is the location of the property. Can you offer any assistance?
Flying freeholds in Hyde Park are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hyde Park you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hyde Park may ascertain 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 have just placed an offer on a leasehold flat in Hyde Park and the broker that we are using suggested his conveyancer. They quoted nine hundred pounds plus VAT and disbursements. Does this sound reasonable?
Don't just go on a single estimate. You should obtain like-for-like quotes for your conveyancing in Hyde Park. Then pick one that you are comfortable with and crucially, is on the approved list of the bank that you are sourcing your mortgage from.