All was ready to move into my new home in Forest Gate next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the bank. What risks does the mortgage company expect the insurance to cover?
All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These obligations are not unique to conveyancing in Forest Gate.
Completed the sale of my flat in Forest Gate last November but our buyer keeps texting every few hours to say their conveyancer needs to hear from mine. What are the post completion sale legalities now that I have sold?
Following your sale your conveyancer is obliged to send the transfer documentation and all additional paperwork to the purchaser's conveyancer. Where appropriate, your solicitor should also evidence that the legal charge in favour of the lender has been repaid to the buyers conveyancers. There are no post completion steps unique to conveyancing in Forest Gate.
I am buying a 3 bedroom semi in Forest Gate. The intention is to carry out a loft conversion at the property.Will the conveyancing process include investigations to see if these alterations were previously refused?
Your property lawyer should review the registered title as conveyancing in Forest Gate can on occasion reveal restrictions in the title documents which prohibit certain alterations or require the consent of another owner. Some additions call for local authority planning consent and approval under the building regulations. Certain locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
I had an offer accepted on a house in Forest Gate on 18/10/2022, valuation was booked 2 days after, all came back fine. Solicitor instructed, so all that was missing was my mortgage offer. Having made daily calls to Barclays and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Barclays conveyancing panel. Are Barclays entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
After what feels like an age I have had an offer on an apartment in Forest Gate accepted, the sellers do nevertheless have a connected purchase. The owners have put an offer on on an apartment, however it’s not yet tied up, and are looking at other flats booked. I have chosen a local conveyancing solicitor in Forest Gate. What should be my next step? At what point should I apply for the mortgage with Kent Reliance?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx £1k, then valuation, Forest Gate conveyancing search charges, etc). First, you should check that your conveyancing practitioner is on the Kent Reliance conveyancing panel. Regarding the next stages this very much dictated by the specifics of your transaction, attraction to the property and on the state of the market. During a rising market the majority of buyers will apply for the mortgage with Kent Reliance and pay for the valuation and only if it comes back ok would they pay their property lawyer to press on with the conveyancing in Forest Gate.
I am buying a new build house in Forest Gate with a loan from Leeds Building Society. The builders refused to reduce the price so I negotiated £7000 of extras instead. The house builders rep told me not inform my solicitor about this deal as it would adversely affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Due to the input of my in-laws I had a survey completed on a house in Forest Gate in advance of appointing lawyers. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies tend refuse to grant a loan on such a premises.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Forest Gate. Conveyancing will be smoother if you use a solicitor in Forest Gate especially if they are accustomed to such properties in Forest Gate.
What advice can you give us when it comes to finding a Forest Gate conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Forest Gate conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Forest Gate conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be of use:
Can they put you in touch with clients in Forest Gate who can give a testimonial?
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Forest Gate conveyancing firm to represent me?
Most certainly. We are happy to put you in touch with a Forest Gate conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Forest Gate premises is 52 & 54 Green Street in February 2010. Following a vesting order by the County Court the Tribunal decided that the price that the Applicant for the freehold interest should pay is £20,543 This case was in relation to 2 flats. The number of years remaining on the existing lease(s) was 78 and 80.