I am obtaining a offer of a home loan from Nat West. I intend to retain the legal services of a Licensed Conveyancer in Totteridge. Does the Nat West Conveyancing panel exclude Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I am the registered owner of a freehold premises in Totteridge but still pay rent, why is this and what is this?
It is rare for properties in Totteridge and has limited impact for conveyancing in Totteridge but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
Is it necessary to pay for insurance to cover chancel repairs when purchasing a house in Totteridge?
Unless a prior acquisition of the premises completed after 12 October 2013 you may expect conveyancing practitioners conducting conveyancing in Totteridge to continue to recommend a chancel search and or insurance against a claim.
Should I be wary by brokers that I am dealing with are suggesting a factory type conveyancing firm as opposed to a High Street Totteridge conveyancing practice?
As with many service providers, often referrals from connections can be very helpful. Nevertheless there are lots of people with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies may put forward solicitors to instruct. Sometimes the conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there might be a financial incentive behind the endorsement. You are free to select your own lawyer. Don't forget that some banks operate an approved list of lawyers you have to use for the lender aspect of your home move.
My partner and I may need to rent out our Totteridge ground floor flat temporarily due to taking a sabbatical. We instructed a Totteridge conveyancing firm in 2003 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Even though your previous Totteridge conveyancing lawyer is not available you can check your lease to check if it allows you to sublet the apartment. The accepted inference is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek permission from your landlord or some other party prior to subletting. The net result is you not allowed to sublet in the absence of prior permission. Such consent should not be unreasonably withheld. If the lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.
After years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Totteridge. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to judgment on the price.
An example of a Lease Extension decision for a Totteridge property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The number of years remaining on the existing lease(s) was 76 years.
Our solicitor in Totteridge has identified a a legal deficiency with the lease for the flat we are purchasing in Totteridge. The other side have suggested defective title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor says that as he is on the lender conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the bank?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Totteridge conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. These conveyancing instructions have to be complied with by the lender conveyancing panel who has to balance acting for you and the mortgage company