We are approaching an exchange on a house in Swiss Cottage and my parents have sent the 10% deposit to my conveyancer. I am now told that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my mortgage company. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I informed the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
Your conveyancer is legally required to check with lender to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
It is is a decade since I bought my property in Swiss Cottage. Conveyancing lawyers have just been retained on the sale but I am unable to locate the title deeds. Will this jeopardise the sale?
Don’t worry too much. Firstly the deeds may be retained by the lender or they could be in the possession of the lawyers who oversaw your purchase. Secondly in all probability the title will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring up to date copy of the land registers. Nearly all conveyancing in Swiss Cottage relates to registered property but in the rare situation where your home is unregistered it adds to the complexity but is resolvable.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Swiss Cottage?
There are many recorded licenced Conveyancers in Swiss Cottage and Solicitor partnerships in Swiss Cottage to choose from It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. Both can conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Completion of my purchase has taken place for my property in Swiss Cottage. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I can not fathom if my mortgage offer requires a lease extension. I have called my Swiss Cottage building society branch on various occasions and was told they are content with the situation and they would lend. My Swiss Cottage conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The property lawyer must follow the Council of Mortgage Lenders’ Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Swiss Cottage is the location of the property. Can you offer any advice?
Flying freeholds in Swiss Cottage 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 Swiss Cottage you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Swiss Cottage may decide 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 premises.
I am intending to rent out my leasehold apartment in Swiss Cottage. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Notwithstanding that your last Swiss Cottage conveyancing lawyer is not around you can review your lease to see if it allows you to sublet the premises. The rule is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you must obtain permission from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet without first obtaining consent. Such consent is not allowed to be unreasonably turned down. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Swiss Cottage conveyancing firm to act on my behalf?
if there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to judgment on the price payable.
An example of a Lease Extension matter before the tribunal for a Swiss Cottage premises is Raised Ground Floor Flat 20 Fitzjohns Avenue in July 2014. the Tribunal decided that the premiums to be paid for new leases in respect of the Raised Ground Floor Flat and the First Floor Flat were to be calculated as: Raised Ground Floor: £765,175.14 First Floor: £601,617.77 This case affected 2 flats. The number of years remaining on the existing lease(s) was 16.83 and 16.43.
How up-to-date is your database of lawyers on the bank conveyancing panel in Swiss Cottage? Do the banks send you an updated list?
Swiss Cottage law firm practices and firms conducting conveyancing in Swiss Cottage themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the mortgage company directly.