We are buying a newly built duplex in Thornton and my conveyancer is informing me that she is duty bound to the bank to disclose incentives from the seller. I am on a tight deadline to exchange and I don't want to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Having sold my house in Thornton last April but the buyer keeps calling daily to moan that his conveyancer needs to hear from mylawyer. What are the post completion sale legalities now that I have sold?
Post completion of your disposal your solicitor is committed to send the transfer documentation and all supplemental paperwork to the purchaser's lawyers. Where relevant, your lawyer must also evidence that the legal charge in favour of the lender has been redeemed to the buyers solicitors. There are no post completion tasks peculiar conveyancing in Thornton.
Does a directory service exist listing HSBC panel solicitors in Thornton on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. A small selection of banks make their panel listings viewable online. Where you are looking for a Thornton property lawyer on the HSBC please make the most of our tool.
Is it the case that all Thornton solicitor firms on the HSBC conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the HSBC approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. The majority of banks do permit licenced conveyancers on their panel in which case such organisation would be overseen by the CLC.
It is unclear whether my lender requires a lease extension. I have telephoned my Thornton building society branch on various occasions and was reassured it wasn't an issue and they will lend. My Thornton conveyancing solicitor - who is on the lender conveyancing panel- called to say that they will not lend in accordance with their specific requirements. I simply don't know who is right.
Your property lawyer must comply with the CML Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Thornton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Thornton
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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? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Thornton is where the house is located. What do you suggest?
Flying freeholds in Thornton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Thornton you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thornton 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.
What does commercial conveyancing in Thornton cover?
Thornton conveyancing for business premises incorporates a broad range of guidance, supplied by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.