My lawyer has identified a a problem with the lease for the flat we are buying in Ruislip Gardens. The seller’s lawyers have suggested title insurance as a solution. We are content with insurance and will pay for it. Our conveyancer says that he must be satisfied that the bank is willing to move forward with this solution. Are we the client or is the mortgage company ?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. These conveyancing instructions must be adhered to.
Should lawyers ask for an advanced payment for my conveyancing in Ruislip Gardens?
If you are buying a property in Ruislip Gardens your solicitor will request that you put them with funds to cover the search fees. Ordinarily this is requested to cover the fees of the Local Authority Search. When the deposit is as part of the sale price then this will be needed shortly in advance of exchange of contracts. The closing balance that is needed will be payable shortly before completion.
I need some quick conveyancing in Ruislip Gardens as I have pressure to complete inside 2 weeks. A mortgage is not required. Can I avoid the conveyancing searches to save money and time?
As you are are a cash purchaser you are at free not to have searches carried out although no law firm would suggest that you don't. Drawing on our experience of conveyancing in Ruislip Gardens the following are examples of what can arise and therefore affect future mortgageability: Enforcement Notices, Overdue Charges, Overdue Grants, Railway Schemes,...
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Ruislip Gardens is the location of the property. What do you suggest?
Flying freeholds in Ruislip Gardens are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ruislip Gardens you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ruislip Gardens 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 premises.
I'm refinancing my existing property to a BTL loan with Nationwide Building Society and intend to use the remaining equity as a deposit on further house. The neighborhood we are looking at is Ruislip Gardens. Will your solicitors be able to act for both sets of banks and link together the transactions?
Make use of our search tool on this page to ensure that the conveyancers are approved by both banks. Assuming that they are your lawyer should be able to simultaneously deal with the two transactions but you should talk with you conveyancer and make apparent your desired outcome and needs.
I have just placed an offer on a leasehold flat in Ruislip Gardens and the estate agent that we are dealing with suggested his lawyer. She quoted a thousand pounds plus VAT and disbursements. Does this sound expensive?
Don't just go on a single estimate. You should seek like-for-like quotes for your conveyancing in Ruislip Gardens. Then choose one that you trust and crucially, is on the approved panel of the lender that you are sourcing your mortgage from.