Forgive me if this question is silly but I am wet behind the ears as FTB of a garden flat in Hook. Do I receive the keys to the premises on the completion date from my conveyancer? If so, I will use a local conveyancing solicitor in Hook?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the owner’s lawyers, and once they have received this, you should be called to collect the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
We are getting the release of further funds on our home loan from Principality as we wish to conduct renovations to our house in Hook. Do we need to appoint a high street Hook solicitor on the Principality conveyancing panel to deal with the legals?
Principality don't usually instruct firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality list.
I have a mortgage with RBS for my property in Hook. Conveyancing was finalised 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform RBS?
Your original mortgage agreement with RBS will provide that you need their approval in advance of renting your property as this is likely to be a breach of RBS’s mortgage conditions. It may be that RBS will allow you to rent 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 RBS directly. It should not be necessary to do this via a RBS conveyancing panel firm.
I need some expedited conveyancing in Hook as I am under pressure to sign on the dotted line within 3 weeks. Fortunately I do not require a mortgage. Is it possible to decline from having conveyancing searches to save money and time?
As you are not obtaining a mortgage you have the choice not to have searches conducted although no conveyancer would suggest that you don't. Drawing on our experience of conveyancing in Hook the following are instances of what can appear and adversely impact future saleability: Refused Planning Applications, Overdue Charges, Outstanding Grants, Unadopted Roads,...
How does conveyancing in Hook differ for newly converted properties?
Most buyers of new build residence in Hook contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is finished. This is because developers in Hook typically purchase the site, 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 accustomed to new build conveyancing in Hook or who has acted in the same development.
I decided to have a survey carried out on a house in Hook ahead of appointing solicitors. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some banks tend refuse to grant a loan on such a home.
It depends who your proposed lender is. HSBC has different requirements from Halifax. If you call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hook. Conveyancing may be slightly more expensive based on your lender's requirements.
I wish to sublet my leasehold apartment in Hook. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A lease dictates the relationship between the landlord and you the leaseholder; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Hook do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Hook conveyancing firm to represent me?
in cases where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to arrive at the price payable.
An example of a Lease Extension case for a Hook residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.
My husband and I are purchasing a garden flat in Hook. When we first instructed solicitor, we were told they were on all major UK lender panels. Our mortgage broker called just now to advise that they are not on the TSB approved list. Should that be true, what should we do? Should we simply choose a new conveyancer that is on their panel or should we pay for separate representation, with TSB selecting their own approved lawyer.
When purchasing a property with the benefit of a mortgage it is standard for the purchaser’s lawyers to also act for the purchaser's lender. In order to act for a bank or building society a solicitor has to be on that lender's conveyancing panel. An application has to be made by the solicitor to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancing practitioner has to satisfy. Some banks now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact TSB and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on TSB's conveyancing panel as you are at liberty to use your preferred Hook lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another property lawyer into the equation.