we are a couple who wish to acquire a newly converted apartment in Havering with a loan from HSBC Bank.We like our Havering conveyancing practitioner but HSBC Bank says his firm is not on their approved list of member firms. We have to appoint a HSBC Bank panel solicitor or retain our local solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you contains terms and conditions, one of which will be that solicitors must be on the HSBC Bank approved list. Until recently, most banks had large numbers of law firms on their panels: a borrower could find 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for HSBC Bank
I happen to be the sole recipient of my late father’s will with all property in now in my sole name, including the house in Havering. Conveyancing formalities meant that the Land Registry date was in February. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my proprietorship could be considered the same way as though I had purchased the house in February. Is the property unsalable for six months?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. How sensible a view lenders take of it, depend on the bank as this clause chiefly exists to pick up on subsales or the flipping of property.
Can you point me to a directory of Virgin Money panel conveyancers in Havering on the Council of Mortgage Lender’s Website?
No. There is no such tool on the CML or Building Society Association sites. A small selection of mortgage companies make their panel listings open the public on the web. If you are in need of a Havering property lawyer on the Virgin Money please make the most of our tool.
I currently have a mortgage with Aldermore for my property in Havering. Conveyancing has been completed 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aldermore?
You must advise Aldermore prior to renting your property as this is likely to be a breach of Aldermore’s mortgage conditions. It may be that Aldermore will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. You need not do this via a Aldermore conveyancing panel solicitor.
I'm purchasing a new build house in Havering with a mortgage from Britannia. The developers refused to reduce the price so I negotiated £7000 of extras instead. The property agent suggested that I not to tell my conveyancer about the side-deal as it would jeopardize my loan with Britannia. Is this normal?.
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 3 weeks into a freehold purchase having been recommend to solicitors by the estate agent to do our conveyancing in Havering. I am am extremely disappointed with the quality of service. Can you help me find new lawyers?
A conveyancer would need to be really poor to suggest diss instructing them. Has your loan offer been sent? In the event that it has you must inform them of the replacement conveyancer and get the offer are re-issued. Your conveyancer should be on the lenders panel to avoid added costs and frustration. That should be your first question of the new conveyancers. Our search tool will assist you in finding a lender approved conveyancer for your home move in Havering
Having checked my lease I have discovered that there are only 72 years unexpired on my lease in Havering. I now wish to extend my lease but my landlord is missing. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. On the whole a specialist would be helpful to carry out a search and to produce a report to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Havering.
Having spent years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Havering. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing landlord or if there is dispute 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 Leasehold Valuation Tribunal to make a decision on the premium.
An example of a Lease Extension matter before the tribunal for a Havering residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired residue of the current lease was 57.5 years.
Finally, a loan offer from a bank for the refinancing of my 4 bedroom garden flat is expected within the next few days. Can you suggest a low cost remortgage conveyancing solicitor in Havering ?
You are on the wrong site if you are in need of the cheapest conveyancing in Havering. We can offer you cost effective conveyancing but we do not work with the cheapest lawyers. Resist the temptation to appoint companies offering low cost conveyancing in Havering.In your best case scenario, in opting for cheap conveyancing, you will end up with what you pay for and at worst you will end up being stung for additional fee and still not get the service required.