I can't travel far from Chadwell Heath. Please explain the reason why all Chadwell Heath solicitors aren't included on all lender panels?
As unjust as it may appear for mortgage companies to restrict who can represent them, from the public’s or lawyer’s point of view, the other side of the coin is that lenders are increasingly anxious and regard it crucial to defend themselves against illegal activities. As a result of this concern mortgage companies are limiting their conveyancing panel to a size that they are happy to control.
My husband and I are buying a new build apartment in Chadwell Heath and my lawyer is telling me that she is duty bound to the lender to disclose incentives from the developer. I am nearing the developer’s deadline to exchange contracts and my preference is not to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
It has been 4 months following my purchase conveyancing in Chadwell Heath concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Chadwell Heath differ for new build properties?
Most buyers of new build residence in Chadwell Heath approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because house builders in Chadwell Heath typically 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 property lawyers 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 Chadwell Heath or who has acted in the same development.
I am 17 days into a residential purchase having been directed to conveyancers by the estate agent to execute conveyancing in Chadwell Heath. We are not happy. Can you help me find new lawyers?
A conveyancer would need to be very poor in order to consider replacing them. Has your loan offer been generated? If so you will need to make them aware of the replacement lawyer and ensure the offer are re-sent. The conveyancer should be on the banks panel to avoid added charges and delays. That should be your first question of the new lawyers. Our search tool should assist you in finding a bank approved solicitor for your conveyancing in Chadwell Heath
I own a leasehold flat in Chadwell Heath. Conveyancing and HSBC Bank mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Chadwell Heath who acted for me is not around. Any advice?
First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. You do not need to instruct a Chadwell Heath conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Chadwell Heath. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the LVT to assess the price.
An example of a Lease Extension decision for a Chadwell Heath residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The unexpired term as at the valuation date was 61.36 years.