Is the fact that my conveyancer in Chigwell is not on my bank's solicitor panel that there is a problem with the standard of his conveyancing?
That is most likely a wrong assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Chigwell conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
I am considering applying for a Principality mortgage for purchase of a new build (under development) in Chigwell with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Principality ?
There is nothing to stop you using your solicitor, but Principality will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
How does conveyancing in Chigwell differ for newly converted properties?
Most buyers of new build residence in Chigwell approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is completed. This is because house builders in Chigwell typically acquire the real estate, 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 used to new build conveyancing in Chigwell or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Chigwell is the location of the property. Can you offer any assistance?
Flying freeholds in Chigwell are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Chigwell you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chigwell may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Having had my offer accepted I require leasehold conveyancing in Chigwell. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Chigwell - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
After years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Chigwell. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Chigwell flat is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case related to 2 flats. The remaining number of years on the lease was 69.26 years.
Should I cancel the direct debit for my mortgage with Leeds Building Society as soon as a completion date for my home sale in Chigwell has been agreed?
No, you should keep paying any mortgage payments to Leeds Building Society pending the mortgage being paid off on completion as part of your Chigwell conveyancing.