We are acquiring our first house. The solicitor has texted usto check if we wish to take out additional conveyancing searches. We are really unsure what's needed for conveyancing in South Kensington
The scope of South Kensington conveyancing searches should be triggered based entirely on the premises, the location, the likelihood of any of these risks, your knowledge of the area and risks, your general approach to risk. What matters is that you adequately comprehend what information the searches could provide. Then you can make a decision if you personally think you need that information. Should you be uncertain, ask your property lawyer to guide you.
How up to date is your search tool for South Kensington conveyancing solicitors on the HSBC conveyancing panel? Do HSBC send you an updated list?
South Kensington 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.
We are selling our flat in South Kensington. Does my solicitor have to be on the Coventry BS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
I happen to be the sole recipient of my late grandmother’s estate and I have everything in my name now, including the house in South Kensington. Conveyancing formalities meant that the Land Registry date was in February. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', meaning my proprietorship may be regarded the same way as if I'd bought the property in February. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. many banks would take a pragmatic view as this provision is chiefly there to capture the purchase and immediately sell or the quick reselling of properties.
We expect to receive a OIP from Nationwide this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nationwide recommend any South Kensington solicitors on the Nationwide conveyancing panel, or is it better to go independently?
You will need to appoint South Kensington solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.
After shopping around on the internet I have found a South Kensington solicitor having made sure that they are on the Nottingham conveyancing panel. Does my lawyer arrange the survey of the property?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your South Kensington postcode. As you are getting a mortgage with Nottingham, you could contact them to see if they have a list of approved surveyors in South Kensington.
Should my lawyer be asking questions concerning flooding during the conveyancing in South Kensington.
Flooding is a growing risk for conveyancers dealing with homes in South Kensington. There are those who buy a property in South Kensington, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a various searches that can be carried out by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in South Kensington. The conventional set of completed inquiry forms sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a usual question of the seller to find out whether the property has suffered from flooding. If the residence has been flooded in past which is not disclosed by the seller, then a buyer may bring a claim for damages as a result of such an incorrect answer. The purchaser’s solicitors may also carry out an enviro report. This will reveal whether there is a recorded flood risk. If so, more detailed investigations should be conducted.
I moved into my home on 16 August and my personal details are still not registered. Any reason for this? My conveyancing solicitor in South Kensington said it should be recorded in a couple of weeks. Are titles in South Kensington uniquely lengthy to register?
As far as conveyancing in South Kensington registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timeframes can adjust subject to who lodges the application, whether there are errors and if the Land registry communicate with any other parties. Currently approximately three quarters of such applications are fully addressed in less than three weeks but occasionally there can be longer delays. Registration occurs after the new owner has moved in to the premises so 'speed' is not always an essential issue but where it is urgent that the the registration takes place urgently then you or your lawyers could contact the land registry and explain the circumstances.