My IFA has asked me for my Hackney law firm’s panel reference for the HSBC conveyancing panel. How do I discover this. I have contacted my local Hackney office but they cant find it on their system.
You are best placed to get this information from your Hackney conveyancer . They retain a central record lender panel numbers.
I happen to be the single beneficiary of my late grandmother’s estate and I have everything in my name alone, including the house in Hackney. The Hackney property was put into my name in October. I plan to dispose of the house. I do know about the CML six month 'rule', meaning my property ownership could be considered the same way as if I'd bought the property in October. Do I have to wait 6 months to sell?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view mortgage companies take of it, depend on the lender as this obligation is principally there to pick up on the purchase and immediately sell or the flipping of properties.
Does a directory service exist listing Yorkshire BS panel conveyancers in Hackney on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lenders make their panel listings open the public on the web. Where you are in need of a Hackney conveyancer on the Yorkshire BS please use our tool.
I am selling my apartment. I had a double glazing fitted in October 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Kent Reliance are being a right pain. The Hackney solicitor who is on the Kent Reliance conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Kent Reliance are requiring a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance 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.
How does conveyancing in Hackney differ for new build properties?
Most buyers of new build premises in Hackney contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Hackney typically buy the site, 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 Hackney or who has acted in the same development.
My cousin has suggested that I instruct his conveyancers in Hackney. Should I choose my own property lawyer?
There are no two ways about it it’s preferable to select a conveyancing practitioner is to seek recommendations from friends or family who have actually used the firm that you are are thinking of instructing.
I am looking at a two maisonettes in Hackney which have in the region of 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold flat in Hackney is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of buyers and lenders, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hackney conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Hackney conveyancing firm to assist?
if there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a Hackney premises is 150 Amhurst Road in December 2013. The tribunal concluded that the premium to be paid by the applicant for the enfranchisement of the subject property was £43,500. This case affected 4 flats. The unexpired term as at the valuation date was 90 (or thereabouts).
A conveyancing firm handled my conveyancing in Hackney three years past and was holding my deeds but has since been shut down – What steps do I now take to get hold of these?
Deeds, as such, no longer exist as most homes in Hackney are archived digitally at Land Registry. If you need to establish evidence of proprietorship or are disposing of or refinancing your conveyancer should obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned with reasonable haste.