It has come to my attention via my mortgage broker that my Barking the law firm I have appointed is not on the lender Conveyancing panel. How can I check?
The sensible course of action for you to take is to contact your Barking lawyer directly. You lawyer should inform you what has happened. Where they are not on the panel they may be able to suggest a Barking conveyancing firm that is on the conveyancing panel for your lender.
Why is leasehold purchase conveyancing in Barking is more expensive?
Barking leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My grandmother passed away 10 months ago and as sole heir and executor I was left the house in Barking. The house had a small mortgage left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Santander, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then Santander will insist on your using a conveyancer on the Santander conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Santander conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Santander mortgage is registered as a charge at the Land Registry.
My conveyancer has informed me that chancel insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Barking?
The right level of chancel indemnity insurance should be dictated by who who your lender is. It would differ for example between Nationwide Building Society and Barnsley Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
Two weeks ago we had a mortgage agreed in principle with Principality. Barking conveyancing lawyers were instructed. What is the average time that one could expect to receive a mortgage offer from Principality?
There is no definitive answer here. Have Principality conducted the valuation? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
We were going to get a AIP from Nottingham this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nottingham recommend any Barking solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Barking solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
I own a leasehold house in Barking. Conveyancing and Santander mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Barking who previously acted has long since retired. Any advice?
First make enquiries of HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Barking conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Barking conveyancing firm to help?
in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to determine the price.
An example of a Lease Extension case for a Barking property is 240 Strone Road in January 2014. the tribunal held that the price to be paid for the freehold interest was£23,538 of which£13,017 is attributable to the ground floor flat and £10,521 to the first floor flat. This case affected 2 flats. The unexpired lease term was 65.5 years.
When it comes to my conveyancing in Barking should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Barking conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.