We are purchasing a 1 bedroom apartment in Hook with a mortgage. We have a Hook lawyer, however the mortgage company advise she’s not on their "panel". We have to appoint one of the lender panel firms or retain our Hook solicitor and pay for one of their panel lawyers to act for them. This seems very unfair; are we not able to insist that the bank use our Hook conveyancing practitioner ?
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 Hook conveyancing lawyer to apply to be on the conveyancing panel.
Do the conveyancing lawyers that are recommend handle auction conveyancing in Hook?
We know of a number of niche practitioners we can connect you with those specialising in auction conveyancing. Hook is just one of hundreds of locations where our lawyers cover.
I am purchasing a new build house in Hook with a loan from Virgin Money. The developers would not move on the price so I negotiated £7000 of extras instead. The property agent advised me not disclose to my lawyer about this side-deal as it will impact my loan with Virgin Money. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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 looking for a flat up to £305k and found one near me in Hook I like with amenity areas and railway links in the vicinity, however it's only got 49 years unexpired on the lease. There is not much else in Hook for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease may be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
I need to instruct a conveyancing solicitor for my conveyancing in Hook. I've land on a web site which looks to be the perfect solution If there is a chance to get all formalities done via email that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Harry (my fiance) and I may need to rent out our Hook 1st floor flat temporarily due to a career opportunity. We instructed a Hook conveyancing practice in 2004 but they have closed and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?
Notwithstanding that your previous Hook conveyancing solicitor is no longer available you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent from your landlord or some other party prior to subletting. The net result is that you cannot sublet without prior consent. The consent must not not be unreasonably turned down. If your lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
I am the leaseholder of a two-bedroom flat in Hook. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
Most certainly. We are happy to put you in touch with a Hook conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hook flat is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.