We are buying a new build apartment in Hammersmith and my lawyer is advising me that she is duty bound to the bank to reveal incentives from the seller. I am under pressure to exchange contracts and my preference is not to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are all Hammersmith Conveyancing Quality Solicitors on the Aldermore conveyancing panel?
Some major lenders now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
When it comes to lenders such as UBS, do Hammersmith solicitors face a fee to be on the conveyancing panel?
We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
Intending to buy a maisonette in Hammersmith. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Hammersmith property lawyer is on the Nationwide conveyancing panel.
I'm purchasing my first flat in Hammersmith with the aid of help to buy. The developers would not budge the amount so I negotiated five thousand pounds worth of extras instead. The property agent told me not to tell my solicitor about the side-deal as it would put at risk my mortgage 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.
I am looking for a flat up to £305k and found one round the corner in Hammersmith I like with amenity areas and railway links in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in Hammersmith for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage that many years will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
Are there any apps to assist me to search for a Hammersmith solicitor on the Bank of Scotland conveyancing panel? I am a keen cyclist and am willing to travel upto 10kilometers to meet the conveyancer.
Feel free to make use of the facility on this website. Please pick a mortgage company and your location and you will see a number of Hammersmith conveyancing lawyers locally. We have listed some Hammersmith conveyancing firms towards the end of this page and you can ring them to check if they are on the Bank of Scotland panel
There are only 72 years remaining on my lease in Hammersmith. I need to get lease extension but my landlord is can not be found. What options are available to me?
If you qualify, 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 lengthened by the magistrate. However, you will be required to prove that you have made all reasonable attempts to track down the lessor. In some cases an enquiry agent would be helpful to carry out a search and prepare an expert document which can be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court covering Hammersmith.
I have given up trying to purchase the freehold in Hammersmith. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Hammersmith conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Hammersmith flat is 19 Crisp Road in June 2009. Following a vesting order (Under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993) The tribunal determined that the premium payable for the acquisition of the freehold was £33,756,apportioned as to£12,285 for the lower at and £21,471for the upper fat. This case related to 2 flats. The number of years remaining on the existing lease(s) was 68.32 years.