I am buying a property without a mortgage in Upton Park. I have lived for the last 20 years in Upton Park. Conveyancing searches are exorbitant. As I have knowledge of the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then the vast majority of the Upton Park conveyancing searches are optional. Your lawyer will try and sway you, perhaps strongly, that you should have searches done, but she is duty bound to do this. One thing to take into account; if you are likely to sell the house in the future, it could be of interest to your future buyer what the searches determine. Sometimes properties with no practical issues can still throw up detrimental search results. A good conveyancing solicitor in Upton Park will be able to give you some constructive guidance concerning this.
Completed the sale of my flat in Upton Park last December but the buyer keeps calling me complaining that her solicitor needs to hear from mine. What should have happened following completion?
Post completion of your sale your conveyancer is committed to deliver the transfer documentation and all additional paperwork to the buyer’s lawyers. Where relevant, your lawyer should also send confirmation that the mortgage has been redeemed to the purchasers conveyancers. There is unlikely to be post completion requirements specific conveyancing in Upton Park.
Can you clarify what the consequences are if my solicitor is removed from the Kent Reliance Solicitor panel ahead of completing my conveyancing in Upton Park?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am buying my first flat in Upton Park with a mortgage from Chelsea Building Society. The sellers refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not to tell my lawyer about the deal as it will jeopardize my mortgage with Chelsea Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Upton Park is the location of the property. What do you suggest?
Flying freeholds in Upton Park are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Upton Park you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Upton Park may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.