We are selling our house in Westminster. Does the lawyer need to be required to be on the Principality conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Principality conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
How does conveyancing in Westminster differ for newly converted properties?
Most buyers of new build premises in Westminster contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because developers in Westminster tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Westminster or who has acted in the same development.
I opted to have a survey completed on a property in Westminster before instructing lawyers. I have been told that there is a flying freehold element to the property. My surveyor advised that some mortgage companies will refuse to give a mortgage on a flying freehold property.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Westminster. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Westminster to see if the conveyancing costs will increase in light of this.
I was advised by a number of selling agents in Westminster to get a quote from a solicitor on your site. Is there a financial advantage for Estate Agents to recommend your site ahead of alternative conveyancing organisations?
We don’t make any financial incentive for sending work our way. We thought it would be too underhand to pay a commission because home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
My mother and father are encountering problems in finding their Westminster land registry title on the site. They have a vague recollection fifty years ago when they bought the house there were complications concerning the post code not being identified on some systems.
Almost all premises in Westminster should be revealed. Have you tried a search to just the postcode. Normally it should identify all the premises inside the postcode. Assuming the property is registered it will show up with a title number. Where they bought sixty years ago it's conceivable it may be unrecorded. The address may still be revealed but with the title number shown 'na'. In this scenario you will need to locate the original title deeds which may be with your parent’s bank.