My partner and I are purchasing an apartment in Stepney. My property lawyer is not listed on the lender conveyancing list. Is it possible for me to continue with my Stepney conveyancing solicitor even though they are excluded from the lender panel?
You will need to appoint a conveyancer to complete the formalities when you take out a loan to purchase your home. They will conduct all the appropriate investigations on the property, make sure that you will be properly registered as the owner and ensure that all the necessary mortgage paperwork is dealt with. You can appoint a Stepney conveyancing practitioner of your choosing. However, if the lawyer appointed is not on the lender approved list additional costs will be incurred as separate legal representation will be need by the mortgage company. Conveyancing panel applications may be submitted, so provided your lawyer has not previously sought membership they can do so.
I have decided to exercise my right to buy my property in Stepney off the council. I have a mortgage agreed with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Stepney building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Stepney conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. I have no idea who is right.
As long as the property lawyer is on the mortgage company panel, she or he must comply with the CML Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Our sealed bid on a property in Stepney has been agreed to, the vendors do however have a connected purchase. The sellers have offered on on an apartment, however it’s not yet tied up, and have viewings of other flats in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Stepney. What do I do now? At what stage should I apply for the mortgage with Santander?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then valuation, Stepney conveyancing search fees, etc). The first thing to do is ensure that your property lawyer is on the Santander conveyancing panel. Concerning the subsequent steps this very much depends on the circumstances of your transaction, motivation for the property and on the state of the market. In a rising market the majority of buyers will apply for a home loan with Santander and pay for the valuation and only if it comes back ok would they pay their lawyer to press on with the conveyancing in Stepney.
Due to the guidance of my in-laws I had a survey completed on a property in Stepney prior to instructing lawyers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies may refuse to issue a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. If you call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Stepney. Conveyancing will be smoother if you use a solicitor in Stepney especially if they are familiar with such properties in Stepney.
How straightforward is it to use the search app to find a conveyancing solicitor in Stepney on the panel for my bank?
First select a bank such as Santander, The Royal Bank of Scotland or Britannia then specify your preferred area e.g. Stepney. Conveyancing organisations in Stepney and beyond will then be listed.
In my capacity as executor for the will of my father I am disposing of a property in Swansea but reside in Stepney. My solicitor (based 300 miles awayneeds me to execute a stat dec before the transaction finalising. Could you suggest a conveyancing lawyer in Stepney who can attest this legal document for me?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are located in Stepney
If all goes to plan we aim to complete the sale of our £200,000 flat in Stepney next Tuesday. The managing agents has quoted £372 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Stepney?
Stepney conveyancing on leasehold maisonettes usually results in fees being levied by management companies :
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Addressing conveyancing due diligence enquiries
Where consent is required before sale in Stepney
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
My wife and I have hit a brick wall in trying to purchase the freehold in Stepney. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to arrive at the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Stepney property is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The unexpired term as at the valuation date was 101.61 years.