I am obtaining a offer of a home loan from Halifax. I hope to enlist the help of a Licensed Conveyancer in North Woolwich. Does the Halifax Solicitor panel allow for Licensed Conveyancers?
The Halifax approved solicitor list is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
My husband and I intend to remortgage our penthouse in North Woolwich with Bank of Ireland. We have a son 18 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Bank of Ireland conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Bank of Ireland. This is solely used to protect Bank of Ireland if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Bank of Ireland had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am considering remortgaging my apartment in North Woolwich, does my lawyer have to be on the Virgin Money Conveyancing panel?
In theory, you could use a solicitor that is not on the Virgin Money conveyancing panel, but Virgin Money would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I'm buying a new build house in North Woolwich with a loan from Norwich and Peterborough Building Society. The developers would not move on the amount so I negotiated 6k of additionals instead. The sale representative told me not disclose to my conveyancer about this side-deal as it may put at risk my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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 hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in North Woolwich. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
Most houses in North Woolwich are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are buying in North Woolwich so you should seriously consider looking for a North Woolwich conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your solicitor will appraise you on the various issues.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a North Woolwich conveyancing firm to assist?
Most certainly. We can put you in touch with a North Woolwich conveyancing firm who can help.
An example of a Lease Extension case for a North Woolwich flat is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The unexpired term as at the valuation date was 69.77 years.
Are all North Woolwich legal practices on every bank conveyancing panel?
The Lexsure search tool on this page may be of use or you can drop into your local bank branch in North Woolwich. Chances are that they will know some good conveyancing solicitors in North Woolwich