I am purchasing a new build flat in West Kensington. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in West Kensington you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in West Kensington.
Are there restrictive covenants that are commonly identified during conveyancing in West Kensington?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in West Kensington. 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 my first flat in West Kensington with a loan from Leeds Building Society. The builders refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep suggested that I not inform my conveyancer about this deal as it could jeopardize my loan with Leeds Building Society. 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.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. West Kensington is the location of the property. What do you suggest?
Flying freeholds in West Kensington are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in West Kensington you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Kensington 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 premises.
I have been advised by numerous selling agents in West Kensington to select a conveyancer on your site. Is there a financial upside for Estate Agents to market your services over and above a competitor’s?
We don’t give any commission for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission because home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
Is it true that a West Kensington conveyancing firm has court proceedings brought against them by clients for failing to conduct the right conveyancing searches?
Our attention has not be brought to such a West Kensington conveyancing matter but it has been reported that, a couple buying a property elsewhere in England successfully sued their lawyer as a consequence of development plans to construct a wind farm failing to be identified in conveyancing searches.
If you are purchasing in West Kensington It is important that your conveyancing practitioner purchase all West Kensington conveyancing searches necessary making sure that you have accurate and up to date information before acquiring a property.