My conveyancer has uncovered a defect with the lease for the property we are buying in Norbiton. The other side have offered defective title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must ensure that the mortgage company is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
How up to date is your search tool for Norbiton conveyancing solicitors on the HSBC conveyancing panel? Do HSBC send you an updated list?
Norbiton conveyancing firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Aldermore Conveyancing panel ahead of completing my conveyancing in Norbiton?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am purchasing a end of terrace house in Norbiton. We would like to an extension at the rear at the property.Will legal work on the property involve checks to determine if these works were previously refused?
Your property lawyer will check the deeds as conveyancing in Norbiton will occasionally reveal restrictions in the title deeds which restrict categories of changes or need the consent of another owner. Certain additions call for local authority planning consent and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
We had selected conveyancers with offices in Norbiton on the Leeds Building Society solicitor approved list. They have just invoiced me an additional charge for dealing with the Leeds Building Society mortgage. Is this a supplemental conveyancing fee set by Leeds Building Society?
Provided it is contained in their Terms of Engagement or Quote then yes your property lawyer can levy a fee for this. This charge is not dictated by Leeds Building Society but by your Norbiton conveyancer. Some firms on the Leeds Building Society panel will levy ’dealing with mortgage’ fee and others do not.
I currently have a mortgage with Co-operative for my property in Norbiton. Conveyancing was finalised some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Co-operative?
Your original mortgage agreement with Co-operative will provide that you need their approval prior to renting your property as this is likely to be a breach of Co-operative’s mortgage conditions. It may be that Co-operative will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Co-operative directly. You need not do this via a Co-operative conveyancing panel lawyer.
How does conveyancing in Norbiton differ for new build properties?
Most buyers of new build residence in Norbiton contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Norbiton typically purchase the real estate, 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 used to new build conveyancing in Norbiton or who has acted in the same development.
Taking into account that I will soon part with 450k on a terraced house in Norbiton I wish to have a conversation with the solicitor concerning thehome move prior to instructing the firm. Can this be arranged?
Absolutely - we would be happy to talk to you we do not take any clients on without you liaising with the lawyer who will be carrying out your property ownership legalities in Norbiton.There is no ‘factory style conveyancing’ - every client is unique individual, not a case number. The law firms that we put you in touch with believe that the figure you are provided with for residential conveyancing in Norbiton should be the amount on the final invoice that you end up paying.