I am one month into the sale of my ground floor flat in Hornchurch and the estate agent has just called to advise that the purchasers are changing their conveyancer. The excuse is that the bank will only work with property lawyers on their conveyancing panel. On what basis would a major lender only deal with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Hornchurch ?
Mortgage companies have always had panels of law firms they are willing to work with, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lending institutions point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
My son is buying a new build apartment in Hornchurch with a mortgage from Coventry BS. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Coventry BS conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My grandfather passed away 10 months ago and as sole heir and executor I was left the property in Hornchurch. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Santander, pay off the mortgage. Is this allowed?
Where you intend to re-mortgage then Santander will insist on your using a conveyancer on the Santander conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Santander conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Santander mortgage is registered as a charge at the Land Registry.
Just bought a semi-detached house in Hornchurch , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My Hornchurch conveyancing solicitor works at snail pace, so I want to be certain the post completion formalities are dealt with.
As far as conveyancing in Hornchurch registration is no faster or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can vary subject to who lodges the application, whether there are errors and if the Land registry must send notices to any interested persons or bodies. Currently roughly 80% of submission are completed within two weeks but occasionally there can be extensive delays. Historically registration occurs once the new owner is living at the premises so an expedited registration is not usually an essential issue but where there is a degree of urgency associated with the registration then you or your conveyancer must contact the land registry and explain the circumstances.
The estate agent has sent us the confirmation of our purchase of a new build flat in Hornchurch. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Hornchurch
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
If all goes to plan we aim to complete the disposal of our £325,000 maisonette in Hornchurch in 10 days. The landlords agents has quoted £324 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Hornchurch?
Hornchurch conveyancing on leasehold flats ordinarily necessitates administration charges levied by managing agents :
Answering pre-exchange enquiries
Where consent is required before sale in Hornchurch
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the leaseholder of a garden flat in Hornchurch. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Hornchurch conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hornchurch flat 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 affected 1 flat. The unexpired residue of the current lease was 57.5 years.