My property lawyer in Wandsworth is not on the HSBC Bank Conveyancing Panel. Is it possible for me to retain my family solicitor even though they are excluded from the HSBC Bank panel of approved conveyancing solicitors?
The limited options open to you here include:
- Carry on with your preferred Wandsworth lawyers but HSBC Bank will need to use a solicitor on their list of acceptable firms. This will inevitably rack up the overall conveyancing fees as well as cause delays.
- Choose an alternative practitioner to to deal with the purchase, remembering to check they are on the HSBC Bank panel
I am planning to move home in July. Should my conveyancing solicitor liaise with the removal company on the completion day. As an aside, can you recommend a removal company in Wandsworth. Conveyancing solicitor was found prior to coming across this site.
On the day of completion you can pick up the keys from your estate agent but this can only happen when the vendors conveyancers advise the agent that they acknowledge receipt of the completion payment and the keys can be passed over. Subsequently you should tell the removal men that they can start moving you in. We do not suggest a specific removal company but can assist you in locating a residential property solicitor in Wandsworth or a lawyer with expertise in conveyancing in Wandsworth.
I currently have a mortgage with HSBC for my property in Wandsworth. Conveyancing was finalised 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
Your original mortgage agreement with HSBC will provide that you need their approval before renting your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel solicitor.
I have finally had an offer on an apartment in Wandsworth accepted, but there is a chain. The sellers have placed an offer on somewhere, however it’s not been accepted yet, and are looking at other apartments in the pipeline. I have selected a local conveyancing solicitor in Wandsworth. What should be my next step? At what point should I apply for the mortgage with Leeds Building Society?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then valuation, Wandsworth conveyancing search fees, etc). The first thing to do is ensure that your conveyancing practitioner is on the Leeds Building Society conveyancing panel. As to the subsequent stages this very much dictated by the circumstances of your case, attraction to this property and on the state of the market. In a buoyant market many buyers would apply for a home loan with Leeds Building Society and pay for the valuation and only if it comes back ok would they request their lawyer to proceed with searches.
I am buying a new build house in Wandsworth benefiting from help to buy. The developers would not budge the amount so I negotiated 6k of fixtures and fittings instead. The sale representative told me not disclose to my conveyancer about this side-deal as it would put at risk my loan with the bank. Is this normal?.
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.
Over the last few months I have been searching for a flat up to £245,000 and identified one near me in Wandsworth I like with open areas and station in the vicinity, the downside is that it only has 51 years unexpired on the lease. There is not much else in Wandsworth in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
There are numerous properties in Wandsworth on private roads. My wife and I are purchasing such a property. What would be the pros and cons of purchasing a residence on a private road?
Wandsworth conveyancing practices are used to transacting homeson private. Your conveyancer should review the title to find any rights or responsibilities. In many cases there is a management company (wholly owned by residents) that owners make annual contributions for the upkeep of the road. Where one exists, the road should be maintained and appear nicer than council adopted.