Our solicitor has uncovered a a legal deficiency with the lease for the property we are buying in Custom House. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancer says that he must check that the lender is happy with this solution. Are we the client or is the mortgage company ?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. The appropriate lender requirements have to be complied with.
Having invested time reviewing moneysavingexpert.com for a high-quality lawyer in Custom House, most say that I must instruct a CQS kitemarked lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home ownership transfers, trusted by some of the UK's leading banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). CQS is not a scheme offered by the Council of Licensed Conveyancing. Custom House is one of the many areas of the UK where there are CQS solicitors.
We are purchasing a property and the lawyer has identified Chancel Repair for which the house could be liable given it’s proximity to the area of such a church. He has mentioned insurance. Is this really necessary for conveyancing in Custom House
Unless a previous purchase of the premises completed post 12 October 2013 you can assume that solicitors delivering conveyancing in Custom House to remain encouraging a chancel search and or chancel repair liability policy.
I'm buying my first flat in Custom House benefiting from help to buy. The developers refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not to tell my solicitor about the side-deal as it would affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been advised by three or four local selling agents in Custom House to select a solicitor on your site. Is there a financial upside for Estate Agents to promote your site over a competitor’s?
We don’t make any commission for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
We expect to complete our sale of a £175,000 flat in Custom House on Monday in a week. The freeholder has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Custom House?
Custom House conveyancing on leasehold maisonettes normally results in administration charges raised by freeholders :
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Completing pre-contract enquiries
Where consent is required before sale in Custom House
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Following years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Custom House. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing landlord or where 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 Leasehold Valuation Tribunal to assess the sum to be paid.
An example of a Lease Extension decision for a Custom House residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The number of years remaining on the existing lease(s) was 69.77 years.