We hired a local lawyer for my conveyancing in Chalk Farm last week. After carefully reading the fine print it is apparent thatI am on the hook for charges even where the transaction does not complete. Would I be best advised to select an on-line conveyancing brokerage promising no-sale-no-fee conveyancing in Chalk Farm?
Generally there is a compromise along the lines that if "No Completion No Fee" is advertised then the fee levels will generally be more expensive to cover the conveyances that fail to complete. Also remember that such promotions rarely protect you from outlay for instance Chalk Farm conveyancing search charges.
My wife and I are only a couple days away from an exchange on a flat in Chalk Farm and my mum and dad have sent the ten percent deposit to my solicitor. I am now informed that as the deposit has not arrived from me my property lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The conveyancer is duty bound to clarify with lender to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Forgive me if this question is silly but I am unseasoned as FTB of a two bedroom flat in Chalk Farm. Do I receive the keys to the property on the completion date from my conveyancer? If so, I will instruct a local conveyancing solicitor in Chalk Farm?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you should be called to receive the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
The mortgage over my property is with Yorkshire BS for my property in Chalk Farm. Conveyancing was finalised a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Yorkshire BS?
Your original mortgage agreement with Yorkshire BS will provide that you need their approval before renting your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. In many cases banks or building societies 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 Yorkshire BS directly. You need not do this via a Yorkshire BS conveyancing panel firm.
HSBC have agreed my home loan in principle, my bid on a property in Chalk Farm has been accepted, now what?
The property agent will wish to know who your solicitors are (make sure the conveyancing practitioners are on the lender’s approved list). Telephone HSBC or your broker and finish off any relevant paperwork. HSBC will sellect a valuer who will get in contact with the selling agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes on average a fortnight to receive the mortgage offer. HSBC will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Chalk Farm.
Me and my brother purchased a terraced Victorian property in Chalk Farm. Conveyancing lawyer acted for me and Yorkshire Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold with the exact same address. Is it worth asking Yorkshire Building Society to clarify?
You should review 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Chalk Farm and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing practitioner who completed the work.
We are 14 days into a leasehold purchase having been directed to a firm by the selling agent to do our conveyancing in Chalk Farm. I am am extremely disappointed with the quality of service. Can you you assist me in finding new conveyancers?
They would need to be really poor to suggest changing them. Has your mortgage offer been sent? If so you need to advise them of the replacement conveyancer and ensure the offer are issued to the new lawyers. Your conveyancer needs to be on the lenders panel to avoid supplemental fees and complications. That should be your first question of the new conveyancers. The search tool should assist you in finding a lender approved conveyancer for your conveyancing in Chalk Farm
Having checked my lease I have discovered that there are only Fifty years unexpired on my lease in Chalk Farm. I am keen to get lease extension but my freeholder is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to locate the freeholder. In some cases a specialist should be helpful to carry out a search and prepare a report to be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Chalk Farm.
We have reached the end of our tether in trying to purchase the freehold in Chalk Farm. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to assess the amount due.
An example of a Lease Extension matter before the tribunal for a Chalk Farm premises is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case related to 1 flat. The number of years remaining on the existing lease(s) was 64.77 years.