We are buying a newly built flat in Norwood Green and my lawyer is advising me that she is duty bound to the mortgage company to disclose incentives from the builder. I am nearing the developer’s deadline to sign contracts and I would rather not prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My mortgage company has recommended solicitors on their panel based in Norwood Green but I would rather use a conveyancing lawyer in Norwood Green or nearer to where I live. Can you help?
Not all Norwood Green conveyancing practices are listed all lender’s conveyancing panel. Please make use of our search tool to choose a Norwood Green conveyancing firm on the on the mortgage company panel.
I own a semi-detached Edwardian house in Norwood Green. Conveyancing practitioner represented me and Bank of Ireland. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Norwood Green and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing lawyer who conducted the work.
How does conveyancing in Norwood Green differ for newly converted properties?
Most buyers of new build residence in Norwood Green approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because house builders in Norwood Green usually acquire 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 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 used to new build conveyancing in Norwood Green or who has acted in the same development.
I opted to have a survey done on a property in Norwood Green in advance of instructing conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies will refuse to give a loan on this type of premises.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Norwood Green. Conveyancing will be smoother if you use a solicitor in Norwood Green especially if they regularly deal with such properties in Norwood Green.
I have been sourcing a conveyancing solicitor in Norwood Green for my house move. Is there any facility to review a solicitor's record with the legal regulator?
Anyone may read published Solicitor Regulator Association (SRA) decisions resulting from inquisitions commenced on or after Jan 2008. Visit Check a solicitor's record. To find information Pre 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The SRA sometimes recorded call for training requirements.