My husband and I are hoping to purchase a 3 bedroom flat in Highams Park with a mortgage. We like our Highams Park lawyer, however the mortgage company says he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or keep our Highams Park conveyancing practitioner as well as pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. Another option that might be available is for your Highams Park conveyancing lawyer to apply to be on the conveyancing panel.
I am buying a brand new duplex in Highams Park and my conveyancer is advising me that she is duty bound to the bank to disclose incentives from the seller. The Estate Agents are hassling me to sign contracts and I don't want to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
In what way does my ID and proof of funds have anything to do with my conveyancing in Highams Park? Why is this being asked of me?
You are right in these requests have nothing to do with conveyancing in Highams Park. Nowadays you will not be able to proceed with any conveyancing process if you have not supplying proof of your identity. Ordinarily this takes the form of a either your passport or driving licence plus a utility bill. Please note that if you are supplying your driving licence as proof of identification it needs to be both the paper element as well as the photo card part, one is not acceptable without the other.
Proof of your source of monies is required in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your lawyer will need to have this information on file. Your Highams Park conveyancing lawyer will need to see evidence of proof of funds prior to accepting any funds from you into their client account and they will also ask further questions concerning the source of monies.
A friend recommended that where I am purchasing in Highams Park I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Highams Park conveyancing searches. It is a large report of about 40 pages, listing and detailing important information about Highams Park around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Highams Park Education with maps and statistics, Local Amenities and other useful data regarding Highams Park.
In my capacity as executor for the will of my aunt I am disposing of a property in Newport but I am based in Highams Park. My solicitor (approximately 235 kilometers awayrequires that I sign a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing solicitor in Highams Park who can attest this legal document for me?
strictly speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are located in Highams Park
After years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Highams Park. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to arrive at the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Highams Park residence is 48 Greenleaf Road in December 2009. the lessees sought to exercise their right to purchase the freehold from the landlord by way of collective enfranchisement in accordance with the Leasehold Reform Housing and Urban Development Act 1993.The landlord could not be found.A vesting order was granted from the Bow County Court on 10 September 2007 (Claim No: 8BO04141). The Tribunal held that the premium to be paid was £3,850 This case affected 2 flats. The unexpired term as at the valuation date was 104 years.
What makes a Highams Park lease defective?
There is nothing unique about leasehold conveyancing in Highams Park. Most leases are drafted differently and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
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A provision to repair to or maintain elements of the building
You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Skipton Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.