We selected a local lawyer for my conveyancing in Stamford Hill recently. After carefully reading the Terms and Conditions it is apparent thatI am on the hook for costs even if the sale aborts. Should I go with them or appoint an on-line conveyancing brokerage promising no-sale-no-fee conveyancing in Stamford Hill?
Generally there is a concession along the lines that if "No Completion No Fee" is available then the fee levels will tend to be be uplifted to offset the conveyances that abort. Please beware that these schemes tend not to cover outlay for instance Stamford Hill conveyancing search fees.
Can you vouch for a Chelsea Building Society allowed Stamford Hill conveyancing practice that can complete within 28 days? Would it be better to use a high street Stamford Hill practice or a nationwide conveyancer?
We can recommend some very good Stamford Hill conveyancing firms. You can also walk up the high street in Stamford Hill. Go in to some well established law practices and request to speak with a conveyancing solicitor for a costs illustration. Discuss your requirements together with your reasons and get an assurance on your deadline. Select the one that genuine.
I am considering applying for a Bank of Ireland mortgage for purchase of a newly converted (under development) in Stamford Hill with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland ?
In theory, you could use a solicitor that is not on the Bank of Ireland conveyancing panel, but Bank of Ireland 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 transaction.
Me and my brother own a renovated Edwardian property in Stamford Hill. Conveyancing practitioner acted for me and Norwich and Peterborough Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stamford Hill and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing solicitor who conducted the conveyancing.
I am buying my first flat in Stamford Hill benefiting from help to buy. The developers refused to move on the price so I negotiated £7000 of additionals instead. The estate agent told me not inform my lawyer about the extras as it could adversely affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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 employed by a long established estate agency in Stamford Hill where we see a number of flat sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Stamford Hill conveyancing solicitors. Could you clarify whether the owner 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.
I own a a ground floor purpose built flat in Stamford Hill. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
if there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the price payable.
An example of a Lease Extension matter before the tribunal for a Stamford Hill residence is Flat 25, Stamford Hill Mansions Stamford Hill in April 2010. The Tribunal therefore determined that the premium to be paid by the lessee to the freeholder for the extension of the lease should be £28,984.00 This case related to 1 flat. The unexpired lease term was 59 years.