We are intending to buy a 3 bedroom apartment in Kilburn Park with a mortgage. We would like to retain our Kilburn Park lawyer, but the mortgage company says she’s not on their "panel". It appears that we have little option but to instruct one of the lender panel conveyancing practices or retain our Kilburn Park conveyancing practitioner as well as pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Kilburn Park conveyancing lawyer to apply to be on the conveyancing panel.
I am under pressure from the mortgagee in possession of a property in Kilburn Park to exchange within four weeks. What can I do to speed up matters?
In a situation where the seller is applying pressure for your conveyancing it is advisable to make sure that your lawyer is familiar with the location as they will make use of local contacts and insight. It is even conceivable that they would have transacted previoushomes in the same road. You would be best advised to use a Kilburn Park conveyancing lawyer. Second, make sure that the lawyer is on the on the approved list for your mortgage company. It is believed that just under twenty per cent of Kilburn Park conveyancing transactions are delayed or derailed after discovering a buyer’s lawyer was not on their mortgage lender’s member panel. In many cases this discovery resulted in the conveyancing being frustrated by an average of three weeks. It is claimed that this issue affects in the region of 100,000 home sales every year. Many Kilburn Park conveyancing firms can not act for certain banks so do check at the outset.
It is a dozen years since I acquired my property in Kilburn Park. Conveyancing solicitors have recently been instructed on the sale but I am unable to track down the title documents. Will this jeopardise the sale?
You need not be too concerned. Firstly there is a chance that the deeds will be kept by your lender or they could be in the possession of the lawyers who handled your purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Most conveyancing in Kilburn Park relates to registered property but in the rare situation where your home is not registered it adds to the complexity but is resolvable.
Should our lawyer be asking questions concerning flooding as part of the conveyancing in Kilburn Park.
Flooding is a growing risk for conveyancers dealing with homes in Kilburn Park. Some people will purchase a property in Kilburn Park, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where 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 house purchase to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, but there are a various checks that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Kilburn Park. The standard information sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the owner to determine if the property has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the seller, then a purchaser may commence a legal claim for losses stemming from an misleading answer. The purchaser’s conveyancers will also carry out an environmental report. This should indicate if there is any known flood risk. If so, additional inquiries will need to be conducted.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Kilburn Park. Conveyancing is daunting 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 conveyancing.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Kilburn Park
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please confirm the Lease plans are surveyor prepared. Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I need to retain a conveyancing solicitor for purchase conveyancing in Kilburn Park. I have chance upon a site which looks to be the perfect offering If there is a chance to get all formalities done via web that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?