My fiance and I are looking to acquire a home in Wandsworth and are in fact using a Wandsworth conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Virgin Money have this morning contacted us to advise us that they have now hit a problem as our Wandsworth solicitor is not on their approved list of lawyers. Please explain?
Where you are buying a property with the assistance of a mortgage it is standard for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Wandsworth lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
I have given 8 weeks notice to my current landlord and have to be out of my let out flat in Wandsworth by 26/6/2024. Conveyancing for my house purchase is underway. Can I complete in 4 weeks as don't want to have to move into temporary accommodation?
It is unwise to provide notice on a rental unless your lawyer suggests that you should. If you have not already done so, speak to your lawyer and request that they cajole the owners side, try to get a realistic time scale from them that everyone will work towards
My uncle passed away last year and as sole heir and executor I was left the house in Wandsworth. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Aldermore will insist on your using a conveyancer on the Aldermore conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore mortgage is registered as a charge at the Land Registry.
I am buying a new build apartment in Wandsworth. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Wandsworth
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
Am I best advised to choose a Wandsworth conveyancing solicitor in close proximity to the house I am hoping to buy? I have an old university friend who can deal with the conveyancing however his firm is located over three hundred kilometers drive away.
The benefit of a high street Wandsworth conveyancing firm is that you can attend the office to execute documents, hand in your ID and pester them if necessary. Having local Wandsworth know how is a bonus. That being said it's more important to get someone that will do a good and efficient job. If you know people who used your friend and they were impressed that must trump using an unknown Wandsworth conveyancing lawyer solely due to them being based in the area.