My wife and I are getting closer to an exchange on a flat in Petersham and my parents have transferred the ten percent deposit to my solicitor. I am now told that as the deposit has been sent from someone other than me my conveyancing practitioner needs to make a notification to my mortgage company. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
Your property lawyer is duty bound to check with mortgage company to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
My husband and I decided to purchase a newbuild flat in Petersham with a loan from HSBC Bank.We would like to retain our Petersham conveyancing solicitor but HSBC Bank says she’s not on their approved list of member firms. It seems we are left with little choice but to instruct a HSBC Bank panel lawyer or keep our preferred solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that HSBC Bank use our lawyer?
No, not really. The home loan issued to you is subject to its terms and conditions, a common one being that conveyancers needs to be on the HSBC Bank approved list. Until recently, most banks had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for HSBC Bank
About to purchase a new build flat in Petersham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Petersham
There must be mutual enforceability of lessee’s covenants. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I opted to have a survey done on a house in Petersham in advance of appointing solicitors. I have been informed that there is a flying freehold element to the property. The surveyor has said that some lenders will not issue a loan on such a house.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Petersham. Conveyancing may be slightly more expensive based on your lender's requirements.
My company is intending to lease a unit on the high street. Can you recommend solicitors offering competitive charges for non-domestic conveyancing in Petersham for less than £1,200?
We can recommend firms who have well rounded knowledge of commercial conveyancing in Petersham, including the disposal and purchase of businesses as well as simply premises. If you are looking to buy or sell a shop, pub, restaurant, office, retail premises or a whole business we can put you in touch with the right solicitor. Regarding the charges this will depend on the structure and nuances of the proposed transaction. Please provide us with your contact information or telephone so as to enable us to provide you with a fixed commercial conveyancing quote.