My previous lawyer has quoted £1200 for leasehold conveyancing in St John's Wood. I’m selling a Georgian house for £200,000. This seems overpriced. Is it in excess of what I should be paying for conveyancing in St John's Wood?
The quote is fractionally on the high side. Where you are prepared to expend time contrasting costs you might get the conveyancing a bit cheaper by say £100 plus VAT. On the other hand, you mightlive to regret opting for an an untested lawyer. If is important to check that the solicitor can act for your bank. You can utilise our search tool to locate a St John's Wood conveyancing firm on the lender’s member panel which can often include conveyancing solicitors in St John's Wood.
All was ready to complete my purchase in St John's Wood next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These requirements are not unique to conveyancing in St John's Wood.
There are numerous conveyancing solicitors in St John's Wood but how do I know who's good?
We would encourage you not to base your choice on the cheapest St John's Wood conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
is it true that all St John's Wood conveyancing solicitors on the Co-operative conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Co-operative conveyancing panel they would need to be regulated by the SRA. The majority of banks do permit licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
I am buying a property in St John's Wood. A rare aspect is that the roof has a solar panel. Aldermore have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Aldermore your lawyer must comply with the conveyancing requirements contained in Part two of UK Finance Lenders’ Handbook for Aldermore. The CML Handbook includes minimum requirements for solar panel roof-space leases, and lawyers are required to report to Aldermore where a lease does not satisfy these conditions. The provisions relate to the installation of panels on properties countrywide and is not isolated to St John's Wood.
I used Stirling Law a few years ago for my conveyancing in St John's Wood. Now, I need the documents however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in St John's Wood of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying my first flat in St John's Wood with the aid of help to buy. The developers refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not reveal to my conveyancer about the side-deal as it would affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I have been on the look out for a flat up to £245,000 and found one near me in St John's Wood I like with a park and transport links in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in St John's Wood suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.