Can the conveyancing lawyers listed on your site conduct conveyancing in Clapton by way of an attended exchange?
We do have a number of conveyancing experts carrying out one day exchanges. Do call us to secure a fee calculation and details as to availability.
I have a mortgage with Santander for my property in Clapton. Conveyancing has been completed a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Santander?
Your original mortgage agreement with Santander will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Santander’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 Santander directly. You need not do this via a Santander conveyancing panel lawyer.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Clapton bank branch on numerous occasions and was reassured it wasn't an issue and they would lend. My Clapton conveyancing solicitor - who is on the bank conveyancing panel- called and was told they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Provided that the conveyancing practitioner is on the bank approved list, she or he must follow the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am due to exchange contracts on my apartment. I had a double glazing fitted in May 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, RBS are being problematic. The Clapton solicitor who is on the RBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
A relative suggested that if I am purchasing in Clapton I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Clapton conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Clapton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding Clapton.
Are there restrictive covenants that are commonly identified as part of conveyancing in Clapton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Clapton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying a new build flat in Clapton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Clapton
-
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
At last I have had an offer on an apartment in Clapton agreed to, but there is a chain. The sellers have offered on somewhere, however it’s not yet tied up, and are looking at other flats in the pipeline. I have selected a local conveyancing solicitor in Clapton. What do I do now? At what point do I apply for the mortgage with Nationwide?
It is standard to have apprehensions where there is an associated chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of £1k, then valuation, Clapton conveyancing search fees, etc). First, you should ensure that your lawyer is on the Nationwide conveyancing panel. Regarding the next stages this very much dictated by the specifics of your transaction, desire for the property and on the state of the market. During a rising market many home buyers will apply for the mortgage with Nationwide and arrange for the survey and only if it was satisfactory would they pay their lawyer to move forward with searches.