I have just been advised by my financial adviser that my North Ockendon lawyer is not on the bank Solicitor panel. How can I check?
The sensible course of action for you to take is to contact your North Ockendon lawyer directly. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
My bid for a property was accepted at auction in North Ockendon. Conveyancing is needed. What is next?
Having legally committed yourself to purchase you now have to find a conveyancing solicitor as a matter of priority as you are facing a tight a fixed date to complete the conveyancing. An auction property will have a bespoke auction set of papers. This will include most,if not all of the documents that your lawyer requires. Where you are dealing with leasehold property the auction pack should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to leasehold premises. You should hand this to your appointed conveyancing solicitor as soon as possible. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
Can you point me to a directory of Skipton panel solicitors in North Ockendon on the Building Society Association’s Website?
No. There is no such directory service on the CML or Building Society Association websites. A small selection of lenders make their panel listings viewable on the web. Where you are looking for a North Ockendon solicitor on the Skipton please use our tool.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local North Ockendon building society branch on numerous occasions and was told they are content with the situation and they would lend. My North Ockendon conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend based on their specific requirements. Who do I believe?
Provided that the property lawyer is on the lender approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook provisions for the lender. 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.
It has been five months following my purchase conveyancing in North Ockendon concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in North Ockendon benefiting from help to buy. The developers refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not disclose to my conveyancer about this deal as it may put at risk my mortgage with the lender. Should I keep quiet?.
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 have been sourcing a conveyancing solicitor in North Ockendon for my sale. Is there any facility to check a solicitor's complaints history with the profession’s regulator?
Members of the public may read published Solicitor Regulator Association (SRA) determinations arising from investigations commenced on or after 1 January 2008. Go to Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training purposes.
I am employed by a reputable estate agent office in North Ockendon where we have experienced a number of leasehold sales derailed due to short leases. I have received contradictory information from local North Ockendon conveyancing solicitors. Could you clarify whether the seller of a flat can commence the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having 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 prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
I have had difficulty in trying to purchase the freehold in North Ockendon. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We can put you in touch with a North Ockendon conveyancing firm who can help.
An example of a Lease Extension decision for a North Ockendon 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 remaining number of years on the lease was 57.5 years.