Am I correct in assuming that the fact that my solicitor in West Hampstead is not identified on my lender's conveyancing panel that there is a problem with the quality of his work?
That is most likely an incorrect assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the West Hampstead conveyancing practice and enquire why they are no longer on the approved list for your bank.
The owners have very assertive sellers who has suggested a exclusivity agreement with a non-refundable deposit 6,000. Is it wise to enter into such agreements?
Lock out agreements are agreements binding a home vendor and purchaser giving the buyer a ‘clear field’ to the sale of the property within an agreed time frame. For all intents and purposes, an exclusivity agreement is a contract stating that you will have a contract at a later date which is the main conveyancing contract. It tends to be utilised for buyer confidence though in some cases, the proprietor may stand to benefit from such agreements as well. There are various pros and cons to using them but you should to check with your conveyancer but note that it may result in costing you more in conveyancing charges. For this these agreements are rare when it comes to conveyancing in West Hampstead.
I have todaybeen informed that Wolstenholmes have been shut down. They conducted my conveyancing in West Hampstead for a purchase of a freehold house 18 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The quickest method to check if the premises is in your name, 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 West Hampstead conveyancing specialists.
I'm buying a new build house in West Hampstead with a mortgage from Bank of Ireland. The developers refused to budge the price so I negotiated £7000 of extras instead. The property agent told me not to tell my conveyancer about this deal as it would affect my mortgage with Bank of Ireland. Do I keep my lawyer in the dark?.
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.
Last November I purchased a leasehold flat in West Hampstead. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the proprietor of a first floor flat in West Hampstead. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
if there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the premium.
An example of a Lease Extension case for a West Hampstead flat is Flat A 372 Cricklewood Lane in January 2013. The Tribunal decided that the premium for the extended lease should be £5,750.00 and that the terms of the new lease should be those set out in annex to the decsion This case was in relation to 1 flat.
Do I have to have a meeting at the offices of the lender conveyancing panel solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in West Hampstead as it will be easier to pop in to their offices if required.
Most conveyancing panel lawyers for the lender undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. YOu dont have to use a conveyancing solicitor in West Hampstead. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.