We are purchasing a purpose built apartment in Knightsbridge with a residential mortgage from Chelsea Building Society.We would like to retain our Knightsbridge conveyancing practitioner but Chelsea Building Society advised that her practice is not on their "panel". we are left little option but to use a Chelsea Building Society panel solicitor or retain our preferred solicitor and fork out for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage issued to you is subject to its various provisions, one of which will be that solicitors needs to be on the Chelsea Building Society approved list. Until recently, most mortgage companies 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Chelsea Building Society
I have paid off my mortgage with Nationwide. I assume I don't need a Knightsbridge property lawyer on the Nationwide panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nationwide mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nationwide mortgage from the register. Nationwide, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Knightsbridge bank branch on various occasions and was informed it wasn't an issue and they would lend. My Knightsbridge conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend based on their specific requirements. Who do I believe?
Your property lawyer has to comply with the Council of Mortgage Lenders’ Handbook section two specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
RBS have agreed my home loan in principle, my offer on a house in Knightsbridge has been accepted, what happens next?
The estate agent will need to be informed of your conveyancing practitioner's details (ensure that the conveyancers are on the bank’s panel). Call up RBS or your broker and finish off any outstanding paperwork. RBS will instruct a valuer who will get in touch with the estate agent or owners to schedule a slot for the valuation to take place. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. RBS will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Knightsbridge.
I used Wolstenholmes several years past for my conveyancing in Knightsbridge. I now require my file but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Knightsbridge of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Knightsbridge differ for newly converted properties?
Most buyers of new build premises in Knightsbridge approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Knightsbridge typically 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 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 Knightsbridge or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Knightsbridge is where the house is located. Is there any advice you can impart?
Flying freeholds in Knightsbridge are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Knightsbridge you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Knightsbridge may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I need to instruct a conveyancing solicitor for my conveyancing in Knightsbridge. I happened to land on a site which seems to have the ideal solution If there is a chance to get all this stuff completed via web that would be ideal. Do I need to be concerned? 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?