We are only a couple days away from an exchange on a house in Blackwall and my mum and dad have sent the ten percent deposit to my property lawyer. I am now advised that as the deposit has not come from me my conveyancing practitioner needs to make a notification to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
The solicitor is legally required to check with mortgage company to make sure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Are the Blackwall conveyancing solicitors identified as being on the Lloyds conveyancing panel, together with their details provided by Lloyds?
Blackwall conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
Is it correct that all Blackwall CQS (Conveyancing Quality Scheme) solicitors are on the Co-operative conveyancing panel?
It is true that some lenders now utilise CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
When it comes to mortgage companies such as Yorkshire BS, do Blackwall lawyers have to pay an annual charge to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
My fiancee and I are spending time looking at apartments in Blackwall and I am about to put in an offer. Should I already have a conveyancing practitioner in place at this stage? I intend to finance via a home loan with Principality.
It would be prudent to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. As you are taking out a mortgage with Principality, make sure you remember to check that your lawyer is on the Principality conveyancing panel.
Me and my brother own a 4 bedroom Georgian house in Blackwall. Conveyancing solicitor represented me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold under the matching property. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Blackwall and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing solicitor who conducted the purchase.
I work for a long established estate agent office in Blackwall where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Blackwall conveyancing solicitors. Can you clarify whether the owner of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the leaseholder of a first floor flat in Blackwall. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
You certainly can. We are happy to put you in touch with a Blackwall conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Blackwall premises is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case related to 3 flats. The remaining number of years on the lease was 101.61 years.
What can I do to determine who is the owner of a house in Blackwall?
As long as the premises is registered with the Land Registry, and you have sufficient information of the address of the premises, you will be able to see results from the the Land Registry of the recorded proprietor for a fee.