I am getting a mortgage offer from Nat West. I intend to employ the services of a Licensed Conveyancer in Knightsbridge. Does the Nat West Solicitor panel allow for Licensed Conveyancers?
The Nat West conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
We see that you have a post code search directory identifying law firms on the Aldermore conveyancing panel. Do firms pay you a commission if I appoint them for our conveyancing in Knightsbridge?
We are a listing service only for law firms wishing to communicate if they are on the Aldermore conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Knightsbridge.
I am thinking of refinancing my apartment in Knightsbridge, does my lawyer have to be on the Virgin Money Conveyancing panel?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
My bid for a property was accepted at auction in Knightsbridge. Conveyancing is required. What is next?
Having legally committed yourself to purchase you should appoint a conveyancing practitioner quickly as you will have a pending a drop dead date to complete the property. All auction property should have a bespoke auction set of papers. This will include most,if not all of the paperwork that your solicitor will need. In the case of leasehold property the auction pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You should pass this on to the conveyancer instructed by you ASAP. Do make sure that you have funds in place to complete on the date specified in the contract.
I am the only beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Knightsbridge. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I understand that there is a CML six month 'rule', which means that my proprietorship could be considered the same way as if I'd bought the house in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. Some banks would take a pragmatic view as this clause primarily exists to capture the purchase and immediately sell or the quick reselling of property.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Knightsbridge solicitor on the UBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS 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 UBS mortgage from the register. UBS, 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 UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
Will commercial conveyancing searches reveal planned roadworks that may affect a commercial estate in Knightsbridge?
Many commercial conveyancing solicitors in Knightsbridge will conduct a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Knightsbridge. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Knightsbridge.
For every commercial conveyancing transaction in Knightsbridge it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Knightsbridge commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Knightsbridge.
We have had DIP from Norwich and Peterborough Building Society who said we could borrow up to £300k. When do we need to instruct a lawyer for conveyancing? Knightsbridge is where we are buying.
It would be wise to appoint a conveyancer now and ask them to generate a file for you. This will facilitate: 1) the estate agent to issue a Sales Memorandum to the relevant parties 2) the seller’s conveyancer to send out the draft agreement. That being said, do not instruct your lawyer to order searches until you receive your valuation report via Norwich and Peterborough Building Society and you are willing to move forward.