We are planning to purchase a 1 bedroom apartment in Hampton with a mortgage. We would like to retain our Hampton lawyer, but the bank says he's not on their "panel". We have to appoint one of the mortgage company panel firms or keep our Hampton lawyer as well as pay for one of their panel ones to act for them. We regard this is unjust; can we not demand that the lender use our Hampton conveyancer ?
No, not really. The mortgage offered to you 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. A further alternative is for your Hampton conveyancing solicitor to apply to be on the conveyancing panel.
There are numerous conveyancing solicitors in Hampton but how do I know who's good?
It would be unwise to be seduced by the lowest Hampton conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We have a mortgage agreed in principle with Bank of Ireland. Hampton conveyancing lawyers are appointed. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
There is no definitive answer here. Have Bank of Ireland completed the valuation? Have you advised Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have finally had an offer on an apartment in Hampton accepted, but there is a chain. The vendors have offered on a flat, but it’s not been accepted yet, and have viewings of other properties booked. I have instructed a bricks and mortar conveyancing solicitor in Hampton. What do I do now? When do I get the mortgage application with Virgin Money started?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is approx one thousand pounds, then survey, Hampton conveyancing search fees, etc). The first thing to do is ensure that your conveyancer is on the Virgin Money approved list. Concerning the subsequent stages this very much dictated by the circumstances of your case, motivation for this property and on the state of the market. In a buoyant market many buyers will apply for a home loan with Virgin Money and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to move forward with the conveyancing in Hampton.
Should my lawyer be making enquiries concerning flooding as part of the conveyancing in Hampton.
The risk of flooding is if increasing concern for lawyers dealing with homes in Hampton. Plenty of people will acquire a house in Hampton, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, but there are a various checks that may be carried out by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Hampton. The standard property information forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the vendor to determine whether the property has suffered from flooding. If flooding has previously occurred and is not revealed by the seller, then a buyer may commence a compensation claim as a result of such an incorrect answer. A buyer’s solicitors should also commission an environmental report. This will higlight whether there is any known flood risk. If so, more detailed investigations will need to be initiated.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a quick, chain free conveyancing. Hampton is where the house is located. Can you offer any guidance?
Flying freeholds in Hampton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hampton you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hampton 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 premises.
I'm converting the mortgage on my primary home to a BTL mortgage with Skipton Building Society and I will use the ballance of the raised equity as a down payment on another property. The area we are looking at is Hampton. Will your lawyers be able to act for the two banks and tie in the two deals?
Do use our search tool on this site to ensure that the conveyancers are on the relevant lender panels. On the basis that they are your conveyancer should be able to simultaneously deal with the two deals but you should talk with you solicitor and communicate your desired outcome and requirements.
If all goes to plan we aim to complete the disposal of our £325,000 maisonette in Hampton on Thursday in a week. The managing agents has quoted £300 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Hampton?
Hampton conveyancing on leasehold flats normally necessitates fees being raised by management companies :
Addressing pre-exchange enquiries
Where consent is required before sale in Hampton
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Hampton conveyancing firm to help?
in cases where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to determine the price.
An example of a Lease Extension matter before the tribunal for a Hampton flat is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The unexpired term was 82.93 years.