I am not in a position to travel far from Tottenham. Can you please spell out why all Tottenham conveyancers are not on all mortgage company panels?
Before the recession most lenders had an approach to risk which differs from the current day. The Financial Services Authority in 2010 carried out a thematic review into property fraud which concluded: know the solicitors on your panel. Accordingly, mortgage companies have since requiredmore information from law firms regarding their processes and the individuals who work for them and set certain criteria such as completing a minimum number of transactions. Hundreds of firms have found themselves removed from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the mortgage companies required.
After reading consumer advice sites for a conveyancing lawyer in Tottenham, many advise that I must look for a CQS accredited solicitor. Can you explain what CQS is?
Tottenham Conveyancing Quality Scheme solicitors have obtained certification under the Law Society's Scheme (CQS) The Law Society created CQS to promote high standards in the in the legal transfer of properties. CQS helps consumers to identify practices that provide a quality residential conveyancing. Tottenham is one of the many areas in England and Wales in which accredited firms are located. The conveyancing scheme requires practices to undergo a strict assessment, compulsory training, self-reporting, spot checks and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Council of Mortgage Lenders.
I am buying a new build apartment in Tottenham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Tottenham
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I opted to have a survey carried out on a house in Tottenham prior to appointing conveyancers. I have been informed that there is a flying freehold aspect to the house. The surveyor advised that some banks may refuse to issue a mortgage on such a house.
It varies from the lender to lender. HSBC has different instructions from Nationwide. Should you wish to telephone us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Tottenham. Conveyancing will be smoother if you use a solicitor in Tottenham especially if they are acquainted with such properties in Tottenham.
I need to appoint a conveyancing solicitor for my conveyancing in Tottenham. I've stumble across a web site which seems to have the perfect answer If there is a chance to get all formalities done via email that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I've recently bought a leasehold house in Tottenham. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
After years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Tottenham. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We can put you in touch with a Tottenham conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Tottenham premises is 30 Strode Road in June 2013. Following a vesting order by Edmonton County Court on 20th February 2013 the Tribunal arrived at a valuation for enfranchisement of £10,256 for the premises (£4,074 for the Ground Floor Flat and £6182 for the First Floor Flat) and £100 for the appurtenant land. This case affected 2 flats. The unexpired term as at the valuation date was 83.33 and 77.3.