We are purchasing a 4 bedroom semi-detached house in Knightsbridge. The intention is to carry out a loft conversion at the property.Will legal work on the property include investigations to ascertain if these works were previously refused?
Your conveyancer will check the deeds as conveyancing in Knightsbridge can sometimes reveal restrictions in the title documents which restrict categories of changes or need the consent of a 3rd party. Certain extensions require local authority planning consent and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor before you commit yourself to a purchase.
I am purchasing a property in Knightsbridge. An unusual aspect is that the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with HSBC your lawyer must follow the formal requirements contained in Section 2 of UK Finance Lenders’ Handbook for HSBC. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and lawyers are required to report to HSBC where a lease fails to meet these conditions. The requirements relate to the installation of panels on properties countrywide and is not isolated to Knightsbridge.
We expect to receive a DIP from Lloyds this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Lloyds recommend any Knightsbridge solicitors on the Lloyds conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Knightsbridge solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
How does conveyancing in Knightsbridge differ for newly converted properties?
Most buyers of new build property in Knightsbridge approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is built. This is because house builders in Knightsbridge typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Knightsbridge or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Knightsbridge in advance of retaining lawyers. I have been informed that there is a flying freehold element to the property. My surveyor has said that some lenders may refuse to give a mortgage on such a home.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. If you contact us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Knightsbridge. Conveyancing will be smoother if you use a solicitor in Knightsbridge especially if they are acquainted with such properties in Knightsbridge.
I need to instruct a conveyancing solicitor for my conveyancing in Knightsbridge. I've discover a web site which looks to be the ideal offering If there is a chance to get all this stuff completed via phone that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Our conveyancer in Knightsbridge has identified a defect with the lease for the apartment we are buying in Knightsbridge. The other side have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer says that as he is on the mortgage company conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the bank?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Knightsbridge conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the mortgage company are the client. These conveyancing instructions have to be complied with by the lender conveyancing panel who has to balance acting for you and the bank