Please could you recommend a Nottingham Building Society approved Eastcote conveyancing practice that can complete within 10 days? Am I best advised to choose a local Eastcote firm or a nationwide comparison site?
We can recommend some very good Eastcote conveyancing firms. You can also walk up the main road in Eastcote. Visit two or three law practices and ask to see a conveyancing solicitor for a fee estimate. Discuss your expectations together with your reasons and get an assurance on your deadline. Appoint the lawyer that genuine.
We are buying a apartment in Eastcote. I might seem paranoid but how we can trust a lawyer? At some point we will need to send our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
It is not clear whether my bank requires a lease extension. I have telephoned my Eastcote bank branch on a couple of occasions and was told it does not impact the mortgage offer and they will lend. My Eastcote conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their published requirements. Who do I believe?
Provided that the conveyancer is on the bank panel, they must adhere to the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
After shopping around on the internet I have found a Eastcote conveyancing practitioner having checked that they are on the Barclays conveyancing panel. Does my lawyer arrange the survey of the property?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Eastcote surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one near me in Eastcote I like with open areas and railway links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Eastcote in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I have been pointed in your direction by a couple of local selling agents in Eastcote to choose a conveyancer on your site. What’s the financial inducement for Estate Agents to offer your site over a competitor’s?
We refuse to make any commission for sending work to this site. We found it would be just too difficult to pay a commission as a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
I've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Eastcote. Conveyancing advisers have not yet been appointed. Will they explain the issues?
The majority of houses in Eastcote are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Eastcote so you should seriously consider shopping around for a Eastcote conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.
I am the proprietor of a two-bedroom flat in Eastcote. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the LVT to decide the price.
An example of a Lease Extension case for a Eastcote property is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case related to 1 flat. The number of years remaining on the existing lease(s) was 53.26 years.
Our lawyer in Eastcote has identified a a problem with the lease for the apartment we are purchasing in Eastcote. The seller’s lawyers have offered defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor has advised that as he is on the mortgage company conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the lender?
Just because you have a mortgage offer from the mortgage company does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Eastcote conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. These conveyancing instructions have to be complied with by the lender conveyancing panel who has to balance acting for you and the mortgage company