What is the first thing I need to know about purchase conveyancing in Kensal Rise?
You may not hear this from too many lawyers but conveyancing in Kensal Rise and elsewhere in England and Wales is often a confrontational process. Put another way, when it comes to conveyancing there is plenty of opportunity for conflict between you and others involved in the ownership transfer. For example, the seller, selling agent and on occasion your mortgage company. Selecting a lawyer for your conveyancing in Kensal Rise an important selection as your conveyancer is your adviser, and is the ONE person in the process whose responsibility is to act in your best interests and to protect you.
We are witnessing a definite ongoing adversarial element to conveyancing- someone must be at fault for the process taking so long. We recommend that you must always trust your conveyancer ahead of the other parties when it comes to the legal assignment of property.
I had intended to instruct a conveyancing solicitor in Kensal Rise for our house move. Our financial adviser has since advised us that our mortgage company Barnsley Building Society won't deal with them. Surely this is unfair competition?
A decade ago most lenders had an appetite for risk which was higher than today. Almost all Kensal Rise conveyancing firms would have been on most mortgage company panels. The financial services regulator in 2010 completed a thematic review into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them as well as establishing certain criteria such a completing on a minimum amount of conveyancing. Many Kensal Rise conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Kensal Rise is one of the hundreds of areas where the solicitors we recommend are members of the panel for Barnsley Building Society.
Will my lawyer be raising enquiries about flooding as part of the conveyancing in Kensal Rise.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in Kensal Rise. Some people will buy a property in Kensal Rise, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, however there are a numerous checks that can be carried out by the purchaser or by their conveyancers which can figure out the risks in Kensal Rise. The standard information supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard question of the seller to determine whether the premises has ever been flooded. If flooding has previously occurred and is not notified by the vendor, then a buyer may issue a compensation claim resulting from an inaccurate response. A buyer’s solicitors will also order an environmental search. This should reveal if there is a recorded flood risk. If so, further inquiries will need to be carried out.
I am purchasing a new build house in Kensal Rise with a mortgage from Virgin Money. The builders would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not disclose to my solicitor about this extras as it may put at risk my loan with the bank. 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Kensal Rise in advance of instructing solicitors. I have been told that there is a flying freehold element to the property. Our surveyor advised that some lenders tend refuse to grant a loan on a flying freehold home.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Kensal Rise. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kensal Rise to see if the conveyancing costs will increase in light of this.
How does the Landlord & Tenant Act 1954 impact my business property in Kensal Rise and how can you help?
The particular law that you refer to affords a safeguard to commercial tenants, giving them the a statutory right to make a request to court for a new tenancy and continue in occupation when the lease reaches an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and assist with commercial conveyancing in Kensal Rise