It is a dozen years since I acquired my home in Ponders End. Conveyancing lawyers have recently been instructed on the sale but I am unable to locate my title documents. Is this a problem?
You need not be too concerned. First there is a possibility that the deeds will be kept by the mortgage company or they could be archived with the conveyancers who handled the purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. Most conveyancing in Ponders End involves registered property but in the rare situation where your home is unregistered it is more problematic but is not insurmountable.
When it comes to mortgage companies such as Yorkshire BS, do Ponders End conveyancers incur a yearly amount to be on the conveyancing panel?
We are unaware of any lender fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
Does a directory service exist listing HSBC panel solicitors in Ponders End on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association sites. A small selection of lenders make their panel listings viewable over the internet. Where you are looking for a Ponders End conveyancing practitioner on the HSBC please use our tool.
I am purchasing a property in Ponders End. A rare aspect is that the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with HSBC your lawyer must comply with the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for HSBC. The CML Handbook includes minimum conditions for solar panel roof-space leases, and property lawyers are required to report to HSBC where a lease does not comply with these specifications. The provisions relate to the installation of panels on properties countrywide and is not restricted to Ponders End.
Will my lawyer be asking questions regarding flooding during the conveyancing in Ponders End.
The risk of flooding is if increasing concern for lawyers dealing with homes in Ponders End. Plenty of people will buy a property in Ponders End, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, however there are a number of checks that can be carried out by the purchaser or by their lawyers which will give them a better appreciation of the risks in Ponders End. The standard property information forms sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual question of the owner to find out if the property has suffered from flooding. If flooding has previously occurred and is not revealed by the vendor, then a buyer may commence a claim for damages stemming from an misleading response. A buyer’s conveyancers should also conduct an enviro search. This will reveal whether there is any known flood risk. If so, more detailed inquiries will need to be made.
Are there restrictive covenants that are commonly picked up during conveyancing in Ponders End?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Ponders End. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I decided to have a survey completed on a property in Ponders End in advance of retaining conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some banks may refuse to grant a loan on such a premises.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to telephone us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Ponders End. Conveyancing may be slightly more expensive based on your lender's requirements.
What advice can you give us when it comes to appointing a Ponders End conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Ponders End conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Ponders End conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:
What are the costs for lease extension work? How experienced is the firm with lease extension legislation?
I own a basement flat in Ponders End. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to determine the premium.
An example of a Vesting Order and Purchase of freehold case for a Ponders End property is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case affected 2 flats. The unexpired lease term was 80.01 years.