Having been referred to your service we were about to use a conveyancing solicitor in South Hackney found by you but stumbled across alternative estimates via the web appear cheaper – why is this?
You can find numerous conveyancers advertising theoretically looks to be cut price. Our advice is to think long and hard as to how important this transaction is to you that you are willing to take 'cheap' risks over the standard of the legal work. Some embed extras deep into the terms and conditions. The solicitors that we put forward for conveyancing in South Hackney will notbehave this way.
My conveyancer has discovered a defect with the lease for the flat we are buying in South Hackney. The seller’s lawyers have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our property lawyer says that he must ensure that the lender is content with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
It is 10 years ago since I acquired my home in South Hackney. Conveyancing solicitors have recently been appointed on the sale but I can't find my title documents. Is this a problem?
You need not be too concerned. Firstly there is a possibility that the deeds will be retained by the lender or they could be in the possession of the lawyers who handled your purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. Most conveyancing in South Hackney relates to registered property but in the rare situation where your property is not registered it is more problematic but is resolvable.
Do I need to have a meeting at the offices of the solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in South Hackney so that I can attend their offices when needed.
Nowadays conveyancing panel lawyers for lenders conduct their work through Royal Mail, internet or over the phone. This enables them to conduct the legal work for your home move no matter where you live in England or Wales. However you should see if you can still book an appointment to visit conveyancing lawyer if needed.
Do I need to be concerned by brokers that I am dealing with are encouraging me to use a national conveyancing firm rather than a local South Hackney conveyancing company?
As with lots of professional services, often input from relatives can be extremely useful or valuable. Nevertheless there are many people with a keen interest in a conveyancing matter; estate agents, mortgage brokers and banks might all put forward lawyers to select. On occasion the conveyancers might be known to one of the organisations as being good in their field, but sometimes there is an underlying financial incentive behind the recommendation. You are free to select your preferred lawyer. You need to be aware that some mortgage providers specify a panel list of solicitors you must use for the lender aspect of your home move.
I am employed by a long established estate agent office in South Hackney where we see a number of flat sales derailed as a result of short leases. I have been given inconsistent advice from local South Hackney conveyancing solicitors. Please can you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as 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. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is 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 purchaser.
I inherited a ground floor flat in South Hackney. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
Most definitely. We can put you in touch with a South Hackney conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a South Hackney premises is 150 Amhurst Road in December 2013. The tribunal concluded that the premium to be paid by the applicant for the enfranchisement of the subject property was £43,500. This case affected 4 flats. The unexpired lease term was 90 (or thereabouts).