I plan on acquiring a flat in Maida Vale. My property lawyer has never been on on the lender conveyancing panel. Is it possible for me to appoint my Maida Vale conveyancing solicitor notwithstanding that they are excluded from the bank panel?
One must appoint a conveyancer to deal with the formalities if you take out a loan to purchase your property. They will conduct all the relevant investigations on the property, make sure that you will be properly registered as the owner and ensure that all the required mortgage documentation is dealt with. You can appoint a Maida Vale conveyancing practitioner of your choosing. However, if the conveyancer selected is not on the bank approved list additional charges will be levied as separate legal representation will be need by the lender. Lender panel applications may be submitted, so where your conveyancer has not in the past sought membership they can do so.
At what point does exchange of contracts take place for residential conveyancing in Maida Vale and do I need to be at the lawyers office?
Where you are in close proximity to our conveyancing solicitors in Maida Vale you are welcome to come in to sign contracts. That being said, the law practices we work with provide a nationwide conveyancing service and provide as equally diligent and professional a job for you when communicating with you by post or email. The signing of the contract is not when everything is set in stone. Signing on the dotted line simply enables the firm to exchange contracts at the suitable time, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Maida Vale)to be in the office at the appropriate time.
I have paid off my mortgage with Nottingham. I assume I don't need a Maida Vale conveyancer on the Nottingham panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Maida Vale. I have a mortgage offer with Santander. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
It is not clear whether my mortgage offer requires a lease extension. I have called into my local Maida Vale building society branch on various occasions and was advised it wasn't an issue and they will lend. My Maida Vale conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the solicitor is on the lender panel, she or he must adhere to the Council of Mortgage Lenders’ Handbook provisions for the 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.
Should commercial conveyancing searches reveal proposed roadworks that could impact a commercial estate in Maida Vale?
Many commercial conveyancing solicitors in Maida Vale will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Maida Vale. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Maida Vale.
For each commercial conveyancing transaction in Maida Vale it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may result in delays to Maida Vale commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Maida Vale.
I have been pointed in your direction by a few property agents in Maida Vale to find a solicitor on your site. Is there a financial upside for Estate Agents to market your lawyers ahead of a competitor’s?
We don’t offer any referral fee for directing people in our direction. We thought it would be too underhand a fee because home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.