I am hoping to receive a offer of a home loan from Lloyds. I intend to use a Licensed Conveyancer in Hampstead. Does the Lloyds Solicitor panel allow for conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My father informed me that in purchasing a property in Hampstead there may be a number of restrictions affecting the ability to carry out external alterations to a property. Is this right?
There are anumerous of properties in Hampstead which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Hampstead should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am the single beneficiary of my late father’s will and I have everything in my name alone, including the my former home in Hampstead. The Hampstead property was put into my name in January. I plan to dispose of the house. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship may be regarded the same way as though I had purchased the house in January. Do I have to wait half a year 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 may be affected by that. How practical a view lenders take of it, depend on the lender as this clause is chiefly there to pick up on subsales or the flipping of properties.
My husband and I have arranged a further advance on our home loan from TSB as we intend to carry out alterations to our house in Hampstead. Are we obliged to choose a bricks and mortar Hampstead solicitor on the TSB conveyancing panel to handle the paperwork?
TSB would not normally appoint firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the TSB list.
Me and my brother own a terraced Edwardian property in Hampstead. Conveyancing practitioner represented me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the matching address. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hampstead and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing lawyer who conducted the work.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Hampstead is the location of the property. What do you suggest?
Flying freeholds in Hampstead are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hampstead you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hampstead may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am 14 days into a residential purchase having been referred to conveyancers by the high street agent to do our conveyancing in Hampstead. I am not happy. Can you you assist me in finding new conveyancers?
A solicitor would need to be really poor in order to consider diss instructing them. Has your mortgage been issued? In the event that it has you will need to make them aware of the replacement lawyer and ensure the mortgage documents are re-issued. Your conveyancer should be on the mortgage company approved list to avoid escalating charges and complications. So that should be your first question of the new solicitors. The find a solicitor tool should help you find a bank approved solicitor for your conveyancing in Hampstead
I've recently bought a leasehold house in Hampstead. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the proprietor of a two-bedroom flat in Hampstead. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Hampstead conveyancing firm who can help.
An example of a Lease Extension case for a Hampstead residence 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 affected 2 flats. The number of years remaining on the existing lease(s) was 16.83 and 16.43.