My wife and I are buying a 2 bedroom apartment in St John's Wood with a mortgage. We like our St John's Wood conveyancer, however the bank advise she’s not on their "panel". We have to appoint one of the lender panel solicitors or keep our St John's Wood conveyancer as well as pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your St John's Wood conveyancing lawyer to apply to be on the conveyancing panel.
Having spent time looking at online forums for a high-quality solicitor in St John's Wood, many say that I should instruct a CQS assured solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in buying or selling property, trusted by some of the UK's leading banks. Four years ago the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). The scheme does not cover licenced conveyancers. St John's Wood is one of the numerous areas in England and Wales where there are Accredited solicitors.
We are getting the release of further funds on our mortgage from HSBC as we wish to conduct improvements to our house in St John's Wood. Do we need to choose a local St John's Wood solicitor on the HSBC conveyancing panel to handle the legals?
HSBC don't usually require firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC conveyancing panel.
My wife and I are at the point of looking at apartments in St John's Wood and I am now considering a potential offer. Should I already have a solicitor appointed at this stage? I am planning to take a home loan with Co-operative.
It would be wise to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. Given that you are getting a mortgage with Co-operative, ask your prospective lawyers if they are on the Co-operative conveyancing panel otherwise they can't do the mortgage legal work.
I am currently in the process of buying my council flat in St John's Wood. I have a mortgage offer with Kent Reliance. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
Are there restrictive covenants that are commonly identified during conveyancing in St John's Wood?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in St John's Wood. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying a new build flat in St John's Wood. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in St John's Wood
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision.
We're new to the buying process - agreed a price, but the estate agent informed us that the seller will only issue a contract if we appoint their recommended conveyancers as they want a ‘quick sale’. My instinct tells me that we should use a local conveyancer used to conveyancing in St John's Wood
We suspect that the seller is unaware of this requirement. Should the owner require ‘a quick sale', alienating a genuine buyer is not the way to achieve this. Contact the vendors directly and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you are going to instruct your own,trusted St John's Wood conveyancing solicitors - rather thanthose that will earn the negotiator at the agency a kickback or meet his conveyancing targets demanded by senior management.