Unfortunately I am unable to travel far from South Woodford. Is there a reason why all South Woodford solicitors aren't included on all mortgage company panels?
Banks highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. This resulted in banks and building societies removing a number of firms off their official list of approved conveyancers .
I am assisting my step-mother sell her house in South Woodford. Does the conveyancing solicitor arrange an EPC or it is for the owner to coordinate?
Following the abolition of HIPs, energy assessments remained a required element of moving house. An energy performance certificate should be to hand prior to the property being marketed. It is not a task that solicitors ordinarily arrange. Where you are using a South Woodford conveyancing practitioner they may be able to arrange energy performance certificates given their relationships with reputable South Woodford accredited person
is it true that all South Woodford solicitor firms on the Yorkshire BS conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Many mortgage companies do list licenced conveyancers on their panel and in that case the practice would be overseen by the Council of Licensed Conveyancers.
I have instructed a South Woodford conveyancer having checked that they are on the Yorkshire BS conveyancing panel. Does my lawyer arrange the survey of the property?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own South Woodford surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I have been on the look out for a flat up to £305k and identified one round the corner in South Woodford I like with a park and transport links in the vicinity, however it only has 49 remaining years left on the lease. I can't really find anything else in South Woodford in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the shortness of the lease will likely be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
Am I better off to choose a South Woodford conveyancing practitioner in close proximity to the house I am hoping to buy? An old friend can handle the legal formalities but they are based approximately 350kilometers away.
The primary upside of using a local South Woodford conveyancing firm is that you can attend the office to sign documents, deliver your identification documents and pester them where appropriate. They will also have local intelligence which is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and they were impressed that should surpass using an unfamiliar South Woodford conveyancing solicitor just because they are based in the area.
All being well we will complete the disposal of our £350,000 apartment in South Woodford in six days. The management company has quoted £336 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in South Woodford?
South Woodford conveyancing on leasehold maisonettes typically necessitates administration charges raised by landlords agents :
Completing conveyancing due diligence enquiries
Where consent is required before sale in South Woodford
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
We have reached the end of our tether in trying to purchase the freehold in South Woodford. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to make a decision on the price.
An example of a Lease Extension case for a South Woodford flat is 135 Maybank Road in January 2013. The Tribunal determined that the price to be paid by the tenants for the grant of a new lease is £10,592 This case affected 1 flat. The unexpired lease term was 71.2 years.
Me and my wife have agreed a price on a South Woodford bungalow we inherited some years ago in 2009. I have over a decades worth of conveyancing experience and, although retired, see no reason not to carry out my own legal work. The purchaser's conveyancer has informed me that their bank will not allow you to do your own conveyancing as they require the funds to be released via a solicitor's bank account.
Lending requirements to lawyers from all mainstream lenders state that If the vendor is not legally represented the buyer’s lawyers should check whether the lender needs to be notified so that a decision can be reached as to whether they are prepared to progress.