The Hyde Park conveyancing firm handling our Hyde Park conveyancing has discovered a discrepancy between the assumptions in the valuation survey and what is revealed within the conveyancing documents. My solicitor has advised that he needs to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications 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 both parties.
Finally the sale completed on my house in Hyde Park last March but our buyer keeps SMS messaging daily complaining that his conveyancer needs to hear from myconveyancer. What are the post completion sale formalities now that I have sold?
Following your sale your solicitor should send the transfer documentation and all additional paperwork to the purchaser's solicitors. If applicable, your lawyer should also confirm that the home loan has been repaid to the buyers solicitors. There is unlikely to be post completion tasks specific conveyancing in Hyde Park.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Hyde Park. Do I collect the keys to the premises on the completion date from my conveyancer? If so, I will instruct a local conveyancing solicitor in Hyde Park?
On the day of completion you do not need to go to the conveyancers office in Hyde Park. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's conveyancers, and shortly after the monies have arrived, you will be invited to collect the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
I am purchasing a property in Hyde Park. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?
Given that your lender is Coventry BS your lawyer must follow the conveyancing instructions set out in Section 2 of UK Finance Lenders’ Handbook for Coventry BS. The CML Handbook includes minimum specifications for solar panel roof-space leases, and conveyancers are required to report to Coventry BS where a lease does not comply with these specifications. The requirements relate to the installation of panels on properties nationwide and is not limited to Hyde Park.
My sealed bid on a property in Hyde Park has been agreed to, the sellers do however have an associated purchase. The owners have put an offer on a flat, however it’s not yet agreed to, and have viewings of other properties booked. I have selected a local conveyancing solicitor in Hyde Park. What should be my next step? When should I get the mortgage application with Santander started?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is approx £1k, then survey, Hyde Park conveyancing search costs, etc). First, you must ensure that your lawyer is on the Santander approved list. Concerning the subsequent stages this very much dictated by the circumstances of your case, desire for the property and on the state of the market. In a rising market the majority of buyers will apply for a home loan with Santander and arrange for the valuation and only if it was satisfactory would they ask their lawyer to press on with the conveyancing in Hyde Park.
How does conveyancing in Hyde Park differ for newly converted properties?
Most buyers of new build or newly converted property in Hyde Park come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Hyde Park usually buy the site, 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 Hyde Park or who has acted in the same development.
Is it possible to swap firm as I need to choose a firm on the Norwich and Peterborough Building Society conveyancing panel. I instructed a high street conveyancing solicitor in Hyde Park five minutes from me but he is not accepted by Norwich and Peterborough Building Society
We will our best to assist in finding you a conveyancing solicitor in Hyde Park on the Norwich and Peterborough Building Society panel. Please note that the law firms that we work with do not pay us commission if you instruct them and are authorised and regulated by the SRA who oversee all conveyancing solicitors in Hyde Park. Using the find a conveyancing solicitor tool on this website, you can scrutinise charges for conveyancing solicitors in Hyde Park and throughout England and Wales.
We are midway through purchasing a property in Hyde Park. Conveyancing solicitor has told us the title is "Leasehold". Does this make a difference on our Natwest valuation?
Hyde Park conveyancing does not normally involve leasehold houses. The key consideration here is the remaining lease term and the ground rent. If there are over a hundred years remaining with a peppercorn rent, it's virtually freehold, so it shouldn't impact the marketability significantly.
At the other end of the spectrum, if it's, say, Sixty years it will have a significant impact on the saleability, and probably wouldn't be acceptable to the lender. The remaining lease term and ground rent will be stated in the lease which should be made available to your conveyancer.