I am purchasing a newly built duplex in Perivale and my solicitor is telling me that she is duty bound to the lender to reveal incentives from the developer. The Estate Agents are hassling me to sign contracts and my preference is not to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
After looking at mumsnet.com for a conveyancing solicitor in Perivale, most advise that I must instruct a CQS assured solicitor. What is CQS?
Perivale Conveyancing Quality Scheme solicitors have been granted accreditation under the Law Society's Scheme (CQS) The Law Society established CQS to promote high standards in the home buying process. CQS enables buyers and sellers to identify practices that provide a quality residential conveyancing. Perivale is one of locations in England and Wales in which accredited firms have offices. The conveyancing scheme obliges practices to undergo a strict assessment, compulsory training, self-certification, random audits and annual reviews in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Building Societies Association.
We expect to receive a OIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Perivale solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Perivale solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I have today made my last payment due on my mortgage with HSBC. I assume I don't need a Perivale property lawyer on the HSBC panel to discharge the mortgage at the Land Registry. Please confirm.
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
After shopping around on the internet I have found a Perivale lawyer having checked that they are on the Lloyds conveyancing panel. Does my lawyer arrange the survey of the property?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Perivale surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Should my solicitor be making enquiries concerning flooding as part of the conveyancing in Perivale.
Flooding is a growing risk for lawyers dealing with homes in Perivale. Some people will acquire a house in Perivale, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, however there are a number of searches that can be initiated by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Perivale. The conventional set of completed inquiry forms sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the seller to determine if the property has suffered from flooding. In the event that the property has been flooded in past which is not revealed by the owner, then a buyer could bring a compensation claim stemming from an inaccurate response. A purchaser’s solicitors will also conduct an enviro report. This will higlight if there is a recorded flood risk. If so, further investigations will need to be initiated.
What does commercial conveyancing in Perivale cover?
Perivale conveyancing for business premises incorporates a wide array of guidance, supplied by qualified solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.