We are purchasing a 1 bedroom flat in Little Ilford with a mortgage. We wish to retain our Little Ilford solicitor, but the mortgage company says he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or retain our Little Ilford conveyancer and pay for one of their panel lawyers to represent them. We feel that this is unjust; can we not require that the bank use our Little Ilford 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 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 Little Ilford conveyancing solicitor to apply to be on the conveyancing panel.
In what way does my ID and proof of funds have anything to do with my conveyancing in Little Ilford? What am I being asked for?
To satisfy the Money Laundering Regulations any Little Ilford conveyancing firm will require proof of identity in all conveyancing matters. This is normally satisfied by provision of a passport and an original bank statement or utility account evidencing your correct address.
In accordance with Money Laundering Regulations, conveyancers are duty bound to investigate not only the identity of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this may result in your lawyer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to make a disclosure to the relevant authorities should they believe that any amounts received by them may contravene the Money Laundering Regulations.
Are all Little Ilford Conveyancing Quality Solicitors on the Clydesdale conveyancing list of approved firms?
A selection of banks and building societies now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
I have paid off my mortgage with Clydesdale. I assume I don't need a Little Ilford lawyer on the Clydesdale panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Clydesdale mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Clydesdale mortgage from the register. Clydesdale, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Little Ilford building society branch on various occasions and was reassured it wasn't an issue and they would lend. My Little Ilford conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend based on their specific requirements. Who do I believe?
Your conveyancer has to comply with the CML Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
What does a local search reveal regarding the property I am buying in Little Ilford?
Little Ilford conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search organisations for example Searchflow The local search is essential in every Little Ilford conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search will provide data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
I am hoping to sign contracts shortly on a ground floor flat in Little Ilford. Conveyancing lawyers inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Little Ilford should include some of the following:
What you can do if another tenant in the building is in violation of a provision in their lease? specifics of the parties to the lease, e.g. these could be the leaseholder, head lessor, freeholder Advice concerning the obligations in the lease to to contribute towards maintenance costs - with regard to both the building, and the more general rights a tenant has The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided.
My wife and I have hit a brick wall in trying to purchase the freehold in Little Ilford. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a Little Ilford conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Little Ilford property is 9 Granville Road in June 2014. The tribunal determines the enfranchisement price payable by the applicants for the freehold was £32,548 This case was in relation to 5 flats. The unexpired lease term was 73.8 years.
Is there a distinction between surveying and conveyancing in Little Ilford?
Conveyancing - in Little Ilford or anywhere in England and Wales - is the legal term given to transferring legal title of property from one person to another. It therefore includes the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re buying and will help you discover the condition of the building and, if there are problems, give you a powerful reason for reducing the price down or asking the vendor to fix the problems prior to you move in.