Me and my partner are buying a 2 bedroom flat in Hainault with a mortgage. We like our Hainault conveyancer, however the mortgage company advise she’s not on their "panel". It appears that we have no option but to use one of the mortgage company panel firms or keep our Hainault conveyancer and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Hainault conveyancing lawyer to apply to be on the conveyancing panel.
What is the difference between a licensed conveyancer and conveyancing solicitor in Hainault
Two types of professional can perform conveyancing in Hainault namely CLC regulated conveyancers or solicitors. The two can handle the legal services that required to complete the sale or purchase of property. They are both obliged to execute Hainault conveyancing to the same standards and guidelines so you can be sure that your conveyancing will be professionally conducted and that the requisite steps should be correctly followed.
Are all Hainault Conveyancing Quality Solicitors on the Skipton conveyancing panel?
A selection of lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
I currently have a mortgage with Principality for my property in Hainault. Conveyancing was finalised months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Principality?
Principality must be informed of your intention before letting out your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality 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 Principality directly. It should not be necessary to do this via a Principality conveyancing panel firm.
I'm buying my first flat in Hainault with the aid of help to buy. The builders would not move on the amount so I negotiated 6k of fixtures and fittings instead. The sale representative told me not reveal to my lawyer about the extras as it would jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
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 guidance of my in-laws I had a survey completed on a property in Hainault in advance of retaining solicitors. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies will not issue a mortgage on a flying freehold property.
It varies from the lender to lender. Lloyds has different requirements for example to Halifax. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hainault. Conveyancing may be slightly more expensive based on your lender's requirements.
What does commercial conveyancing in Hainault cover?
Commercial conveyancing in Hainault covers a broad range of guidance, supplied by regulated solicitors, relating to business property. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I have recently realised that I have 68 years unexpired on my lease in Hainault. I now wish to extend my lease but my freeholder is missing. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you have used your best endeavours to find the freeholder. On the whole a specialist would be useful to try and locate and prepare a report to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the application to the County Court covering Hainault.
I have given up trying to purchase the freehold in Hainault. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We can put you in touch with a Hainault conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Hainault residence is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case was in relation to 2 flats. The unexpired term as at the valuation date was 69.26 years.