How up to date is your database of Primrose Hill solicitors on the Virgin Money conveyancing panel? Do Virgin Money send you an updated list?
Primrose Hill conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
We are getting a further advance on our mortgage from Leeds Building Society as we want to carry out alterations to our property in Primrose Hill. Do we need to choose a nearby Primrose Hill solicitor on the Leeds Building Society conveyancing panel to handle the paperwork?
Leeds Building Society do not ordinarily instruct a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society list.
I am expecting a DIP from HSBC this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do HSBC recommend any Primrose Hill solicitors on the HSBC conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Primrose Hill solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
About to purchase apartment in Primrose Hill. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Primrose Hill solicitor is on the Virgin Money conveyancing panel.
Should my solicitor be making enquiries concerning flooding during the conveyancing in Primrose Hill.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Primrose Hill. Plenty of people will acquire a property in Primrose Hill, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, but there are a various searches that can be carried out by the buyer or by their lawyers which can figure out the risks in Primrose Hill. The conventional set of completed inquiry forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the owner to find out if the property has suffered from flooding. If flooding has previously occurred which is not notified by the seller, then a buyer may issue a claim for damages as a result of such an inaccurate reply. A buyer’s conveyancers will also commission an environmental report. This should higlight whether there is a recorded flood risk. If so, additional inquiries will need to be made.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Primrose Hill is the location of the property. Is there any guidance you can impart?
Flying freeholds in Primrose Hill are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Primrose Hill you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Primrose Hill may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Looking forward to exchange soon on a leasehold property in Primrose Hill. Conveyancing solicitors inform me that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Primrose Hill should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? Whether the lease restricts you from renting out the flat, or having a home office for business Ground rent - what is payable and when is collected, and be on notice if this will change in the future What you can do if a neighbour breaches a clause of their lease? You should know if the lease allows you to alter or upgrade anything in the property- you should know whether it relates to all alterations or limited to structural alteration, and whether licences for alterations is required
My wife and I have hit a brick wall in trying to purchase the freehold in Primrose Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.
An example of a Lease Extension case for a Primrose Hill residence is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case affected 1 flat. The unexpired term as at the valuation date was 64.77 years.
Me and my partner are expecting to complete on the purchase a property in Primrose Hill but as a result of wreckage from the recent storms I have negotiated reparation from the owner of £3k in the form of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process but the mortgage company will not agree to this. Why were they approached?
The conveyancing practitioner listed on a lender approved list is duty bound to inform the bank of any amendments to the sale amount. If you did not allow your lawyer to disclose the price change to your lender then they would have to refrain from representing you and the lender.