I am purchasing a right to buy a flat in London. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in London you will have to appoint a solicitor on your lender'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 London.
Will my conveyancer be asking questions regarding flooding during the conveyancing in London.
Flooding is a growing risk for lawyers carrying out conveyancing in London. Some people will acquire a property in London, fully 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 obtain a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, however there are a various checks that can be carried out by the purchaser or by their lawyers which will figure out the risks in London. The conventional set of information sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard question of the vendor to discover whether the property has suffered from flooding. In the event that the premises has been flooded in past and is not disclosed by the owner, then a buyer may issue a compensation claim stemming from an misleading response. A buyer’s conveyancers will also carry out an environmental report. This will indicate whether there is a recorded flood risk. If so, more detailed inquiries should be made.
I have a 4 bedroom Victorian property in London. Conveyancing solicitor acted for me and National Westminster Bank. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the exact same address. I'd like to know for sure, how can I find out??
You need to read 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 London and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with your conveyancing solicitor who conducted the work.
I'm purchasing my first flat in London benefiting from help to buy. The developers would not reduce the price so I negotiated £7000 of extras instead. The estate agent told me not disclose to my lawyer about this side-deal as it could put at risk my loan with the bank. 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.
Due to the input of my in-laws I had a survey completed on a house in London in advance of appointing lawyers. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies will not grant a loan on this type of home.
It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. Should you wish to call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in London. Conveyancing may be slightly more expensive based on your lender's requirements.