It has come to my attention via my estate agent that my Kennington property lawyer is not on the mortgage company Solicitor panel. How can I be certain whether this is indeed the case?
Your first step should be to call your Kennington lawyer directly. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they may be able to suggest a Kennington conveyancing firm that is on the approved list of lawyers for your mortgage company.
We are purchasing our first house. Our conveyancer has texted usto enquire if we wish to take out supplemental conveyancing searches. We are really unsure what's appropriate for conveyancing in Kennington
The type of Kennington conveyancing searches depends primarily on the property, the location, the possibility of any of these risks, your knowledge of the locality and risks, your general attitude to risk. What is important is that you adequately comprehend what information each search could give you. You may then decide if you consider that you need that search. Where you are unsure, ask the solicitor to recommend.
Forgive me if this question is silly but I am wet behind the ears as FTB of a two bedroom flat in Kennington. Do I pick up the keys to the property on completion from my lawyer? If this is the case, I will use a High Street conveyancing solicitor in Kennington?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you should be invited to collect the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
A friend pointed out to me me that in purchasing a property in Kennington there may be a number of restrictions preventing external alterations to a property. Is this right?
There are a number of properties in Kennington which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Kennington should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have decided to exercise my right to buy my property in Kennington off the council. I have a mortgage agreed with Aldermore. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
I'm buying a new build house in Kennington benefiting from help to buy. The builders refused to move on the amount so I negotiated £7000 of additionals instead. The estate agent suggested that I not reveal to my solicitor about this side-deal as it may affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Should I use a Kennington conveyancing lawyer based in the vicinity that I am purchasing? I have an old university friend who can carry out the conveyancing however her office is approximately 350kilometers drive away.
The primary upside of using a local Kennington conveyancing practice is that you can attend the office to execute paperwork, present your identification documents and apply pressure on them if necessary. Having local Kennington know how is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and on the whole were impressed that must trump using an unfamiliar Kennington conveyancing solicitor just because they are round the corner.
I am short of a 10% deposit on my house purchase in Kennington , but I am keen exchange. What can I do?
You can agree a smaller deposit. Most vendors will accept a lesser 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 minute