At what point can the exchange of contracts occur in residential conveyancing in South Ruislip and am I required to attend the lawyers branch?
If you are near to our conveyancing solicitors in South Ruislip you are welcome to come in to sign the paperwork. However, the firms we recommend offer countrywide coverage for conveyancing and give just as detailed and professional a job for you when dealing with you by post or email. The signing of the contract is not the critical part. A signed contract simply enables the firm to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in South Ruislip)to be in the office at the appropriate time.
We wanted to use a conveyancing solicitor in South Ruislip for our home move. Our financial adviser informed us that our mortgage company Bank of Scotland won't deal with them. Surely this is unduly restrictive?
Pre- 2008 most mortgage companies had a different appetite for risk. Almost all South Ruislip conveyancing firms would have been on many mortgage company panels. The Financial Services Authority in 2010 carried out a thematic investigation into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms regarding their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum amount of transactions. Many South Ruislip conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. South Ruislip is one of the hundreds of areas where the lawyers showing on our search results are on the panel for Bank of Scotland.
I have todaydiscovered that Arc property Solicitors have closed. They conducted my conveyancing in South Ruislip for a purchase of a leasehold flat 18 months ago. How can I be sure that my home is in my name in the name of the former proprietor?
The quickest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of South Ruislip conveyancing specialists.
I'm purchasing my first flat in South Ruislip with a loan from Norwich and Peterborough Building Society. The builders would not move on the price so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not reveal to my lawyer about this side-deal as it will put at risk my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. South Ruislip is where the house is located. Can you offer any opinion?
Flying freeholds in South Ruislip are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in South Ruislip you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Ruislip may ascertain 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 residence.
Our solicitor in South Ruislip has uncovered a a legal deficiency with the lease for the apartment we are buying in South Ruislip. The other side have offered defective title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that as he is on the bank conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the bank 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 lawyer will have no choice but to discontinue acting for you.