I have a decision in principle. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to use their panel lawyer as I would prefer to appoint a high street conveyancing solicitor in White City?
You should check but the chances are that appoint one of their panel lawyers if you want the "fee-free" deal. Contact the lender to check if they allow a monetary alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near White City.
Will my solicitor be making enquiries concerning flooding during the conveyancing in White City.
Flooding is a growing risk for lawyers dealing with homes in White City. There are those who acquire a house in White City, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, but there are a various searches that may be undertaken by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in White City. The standard completed inquiry forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the vendor to find out whether the property has suffered from flooding. In the event that the premises has been flooded in past which is not revealed by the seller, then a purchaser could issue a compensation claim as a result of such an incorrect response. The buyer’s lawyers should also conduct an enviro report. This will higlight whether there is any known flood risk. If so, additional investigations should be carried out.
I purchased a renovated Victorian house in White City. Conveyancing practitioner represented me and Norwich and Peterborough Building Society. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the exact same property. Is it worth asking Norwich and Peterborough Building Society to clarify?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in White City and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing practitioner who carried out the work.
I am purchasing my first flat in White City with the aid of help to buy. The sellers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not to tell my conveyancer about the extras as it may affect my mortgage 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.
Due to the guidance of my in-laws I had a survey completed on a house in White City in advance of instructing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some banks tend refuse to issue a loan on such a property.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in White City. Conveyancing may be slightly more expensive based on your lender's requirements.
What is the reason for my solicitor requiring numerous items of identification before I can proceed with my conveyancing in White City?
White City solicitors are obliged by the Law Society, SRA, the Land Registry and current AML legislation to certify that the have verified the identity of their clients. It will also be a condition of your bank if you are obtaining a mortgage. Furthermore they have to complete various forms, particularly those relating to SDLT and need to have information such as your full names, national insurance number and DOB.