I am not well enough to travel far from Hampstead. I would like to know the logic why all Hampstead property lawyers are not on all bank panels?
Lenders ordinarily impose restrictions on either the type or volume of conveyancing practices on their panel. A common example of such criteria being that the organisation must have two or more partners. As well as restricting the structure of firm, some building societies made a decision to restrict the number of firms they permit to represent them. It is worth noting that lenders have no accountability for the standard of service given by any Hampstead solicitor on their approved list. Increases in mortgage fraud was the key driver in the rationalisation of solicitor panels in the last decade notwithstanding that there are opposing points of view about whether solicitors sat at the center of that fraud. Statistics published by the Land Registry indicates that thousands of law practices only transact a couple of conveyances a year. Those advocating conveyancing panel culls ask why conveyancing firms should have claim to be on a conveyancing panel when it is evident that conveyancing is not their primary expertise?
What happens if my solicitor is suspended from the Aldermore Solicitor panel ahead of completing my conveyancing in Hampstead?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I'm purchasing my first flat in Hampstead with a mortgage from Alliance & Leicester . The sellers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The property agent told me not disclose to my lawyer about this deal as it would jeopardize my mortgage with Alliance & Leicester . 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.
Over the last few months I have been searching for a ground for flat up to £305k and found one round the corner in Hampstead I like with amenity areas and railway links in the vicinity, the downside is that it only has 49 remaining years left on the lease. I can't really find anything else in Hampstead suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan that many years will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
How can the Landlord & Tenant Act 1954 impact my business property in Hampstead and how can you help?
The particular law that you refer to provides protection to business leaseholders, giving them the dueness to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Hampstead
I am in need of some leasehold conveyancing in Hampstead. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is registered - and most are in Hampstead - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Hampstead conveyancing firm to assist?
in cases where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the premium.
An example of a Lease Extension decision for a Hampstead property is Raised Ground Floor Flat 20 Fitzjohns Avenue in July 2014. the Tribunal decided that the premiums to be paid for new leases in respect of the Raised Ground Floor Flat and the First Floor Flat were to be calculated as: Raised Ground Floor: £765,175.14 First Floor: £601,617.77 This case was in relation to 2 flats. The unexpired residue of the current lease was 16.83 and 16.43.