We are buying a newly constructed duplex in Osterley Park and my lawyer is informing me that she is duty bound to the lender to reveal incentives from the builder. I am on a tight deadline to sign contracts and I have no desire to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Forgive me if this question is silly but I am new to the home buying as a first time buyer of a garden flat in Osterley Park. Do I collect the keys to the house on completion from my solicitor? If this is the case, I will use a High Street conveyancing solicitor in Osterley Park?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you should be able to receive the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
My wife and I have arranged a further advance on our home loan from Yorkshire BS as we intend to conduct renovations to our home in Osterley Park. Do we need to choose a high street Osterley Park solicitor on the Yorkshire BS conveyancing panel to handle the paperwork?
Yorkshire BS do not ordinarily require firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS list.
I have today made my last payment due on my mortgage with HSBC. I assume I don't need a Osterley Park conveyancing practitioner on the HSBC panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC 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 HSBC mortgage from the register. HSBC, 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 HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
My colleague suggested that if I am buying in Osterley Park I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Osterley Park conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Osterley Park around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Osterley Park Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Osterley Park Education with maps and statistics, Local Amenities and other useful information regarding Osterley Park.
I have been sourcing a conveyancing practitioner in Osterley Park for my house move. Is it possible to check a solicitor's complaints history with the legal regulator?
Anyone can find documented Solicitor Regulator Association (SRA) determinations arising from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The SRA sometimes recorded call for training requirements.
Why is New Build conveyancing in Osterley Park more costly?
Acquiring a brand new property is completely distinct from the normal house buying conveyancing in Osterley Park. For a start developers ordinarily require contracts to exchange inside a short timeframe, so there is a lot of pressure on your property lawyer to make sure all is in order. Furthermore new build properties frequently involve the checking of adoption of highways, drains, planning considerations, building warranties or architects certificates. Lenders requirements are also more demanding. Taking into account the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.