The Kew conveyancing firm handling our Kew conveyancing has spotted a difference between the information in the valuation report and what is revealed within the conveyancing documents. My lawyer has advised that he needs to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s course or action correct?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions 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.
I am being advised by my lawyer that missing deeds insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Kew?
The appropriate level of missing deeds indemnity insurance depends on who your lender is. It would differ for example between Halifax and Virgin Money. Conveyancing practitioners as opposed to borrowers take out such policies.
We were going to get a AIP from Yorkshire BS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Kew solicitors on the Yorkshire BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Kew solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
Our offer on a property in Kew has been agreed to, the vendors do however have a dependent purchase. The sellers have placed an offer on a property, however it’s not yet tied up, and have viewings of other flats booked. I have chosen a nearby conveyancing solicitor in Kew. What do I do now? At what stage do I apply for the mortgage with Virgin Money?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of £1k, then valuation, Kew conveyancing search charges, etc). First, you should check that your conveyancer is on the Virgin Money approved list. As to the subsequent phase this very much depends on the circumstances of your transaction, attraction to the property and on the state of the market. In a buoyant market the majority of home buyers will apply for a home loan with Virgin Money and arrange for the valuation and only if it comes back ok would they ask their solicitor to move forward with searches.
My colleague advised me that where I am purchasing in Kew I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Kew conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Kew around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Kew Education with plans and statistics, Local Amenities and other useful data concerning Kew.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The solicitors who did the conveyancing in Kew 10 years ago no longer exist. Will I be able to sell the house?
Assuming the title is registered the details of your ownership will be recorded by the Land Registry under a Title Number. It is easy to conduct a search at the Land Registry, locate your house and get up to date copies of the property title for a small fee. Where the property is Leasehold then the Land Registry will usually hold a certified copy of the Registered Lease and again, a copy can be ordered for twenty pounds.
How does conveyancing in Kew differ for newly converted properties?
Most buyers of new build premises in Kew come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Kew usually acquire 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 conveyancing solicitors 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 Kew or who has acted in the same development.
I decided to have a survey completed on a property in Kew ahead of appointing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some banks may refuse to give a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Kew. Conveyancing may be slightly more expensive based on your lender's requirements.