It has come to my attention via my mortgage adviser that my Mile End lawyer is not on the lender Solicitor panel. How can I check?
Your first step should be to call your Mile End conveyancer. You lawyer should notify you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Mile End. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 6/10/2021, the requirements read as follows :
How does conveyancing in Mile End differ for newly converted properties?
Most buyers of new build premises in Mile End contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is finished. This is because developers in Mile End typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Mile End or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Mile End prior to appointing lawyers. I have been informed that there is a flying freehold element to the property. My surveyor has said that some lenders tend not issue a loan on this type of house.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Mile End. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Mile End to see if the conveyancing costs will increase in light of this.
I am looking to sell my home. My past conveyancers has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Mile End if that makes a difference.
You should use our search tool to help you choose a solicitor for your conveyancing in Mile End. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
I work for a reputable estate agent office in Mile End where we have experienced a few flat sales put at risk as a result of short leases. I have been given contradictory information from local Mile End conveyancing firms. Can you shed some light as to whether the vendor of a flat can initiate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a first floor flat in Mile End. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
You certainly can. We are happy to put you in touch with a Mile End conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Mile End flat is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.