I am getting a offer of a home loan from Lloyds. I hope to enlist the help of a Licensed Conveyancer in Hampstead. Does the Lloyds Conveyancing panel include conveyancers regulated by the CLC?
The Lloyds conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My apartment in Hampstead is up for sale and I have a buyer. Will the solicitor need to be required to be on the Bank of Ireland conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Bank of Ireland conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I am assisting my step-mother sell her house in Hampstead. Does the conveyancing solicitor arrange the EPC or it is for me to coordinate?
After the demise of Home Packs, energy assessments was left as a mandatory element of moving property. An energy assessment should be commissioned prior to the property being advertised. It is not something that conveyancers ordinarily organise. If you are using a Hampstead conveyancing practitioner they may be able to arrange energy performance certificates given their relationships with reputable local assessors
I'm at the point of viewing apartments in Hampstead and I am about to put in an offer. Is it advisable to have a conveyancing practitioner on ‘stand by’? I will be getting a mortgage with Coventry BS.
It would be advisable to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are seeking a mortgage with Coventry BS, make sure you remember to check that your lawyer is on the Coventry BS conveyancing panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in September 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Nationwide are being a right pain. The Hampstead solicitor who is on the Nationwide conveyancing panel is saying indemnity insurance will be fine but Nationwide are requiring a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide 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 Hampstead differ for new build properties?
Most buyers of new build premises in Hampstead come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because developers in Hampstead usually buy the real estate, 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 Hampstead or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Hampstead before retaining solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some lenders will not give a loan on a flying freehold property.
It varies from the lender to lender. Santander has different instructions from Nationwide. If you call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hampstead. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hampstead to see if the conveyancing will be more expensive.
What are your top tips when it comes to choosing a Hampstead conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Hampstead conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Hampstead conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:
If they are not ALEP accredited then why not? How familiar is the firm with lease extension legislation?
I have tried to negotiate informally with with my landlord for a lease extension without success. Can a leaseholder 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 where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the premium.
An example of a Lease Extension matter before the tribunal for a Hampstead flat 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 term as at the valuation date was 16.83 and 16.43.