After what seems like an age a loan agreement from HSBC for the remortgage of my single bedroom flat is expected any day now. Can you suggest a low cost conveyancing solicitor in Tower Hill?
You are on the wrong site if you are seeking a cheap conveyancing solicitors in Tower Hill. We can offer you cost effective conveyancing but we do not aim to advertise as being the cheapest. Resist the temptation to appoint organisations offering the bait of low cost conveyancing in Tower Hill. At best, in deciding on low cost conveyancing, you will get your money’s worth and at worst you will end up with a hefty uplift in extras and still not end up with the service expected.
My husband and I wish to acquire a newly converted flat in Tower Hill with a loan from Bank of Scotland.We would like to retain our Tower Hill conveyancing solicitor but Bank of Scotland says she’s not listed on their approved list of member firms. We have to appoint a Bank of Scotland panel lawyer or keep our preferred solicitor and pay for a Bank of Scotland panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Bank of Scotland use our lawyer?
Unfortunately,no. The mortgage offered to you contains terms and conditions, one of which will be that solicitors will be on the Bank of Scotland approved list. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Bank of Scotland
About to purchase a new build apartment in Tower Hill. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Tower Hill
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Tower Hill is the location of the property. Is there any advice you can give?
Flying freeholds in Tower Hill are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Tower Hill you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tower Hill may ascertain 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 property.
Last March I purchased a leasehold property in Tower Hill. Do I have any liability for service charges for periods before completion of my purchase?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
I am the proprietor of a a ground floor purpose built flat in Tower Hill. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
Most certainly. We can put you in touch with a Tower Hill conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Tower Hill flat is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case related to 41 flats. The remaining number of years on the lease was 107 years.
My partner and I soon to exchange on the purchase a property in Tower Hill but as a result of wreckage from the recent storms I have negotiated reparation from the current proprietors of £3k in the form of a reduction in the price. I had intended this to be dealt with as part of the conveyancing process yet the lender will not agree to this. Why were they involved?
Your lawyer being on the bank conveyancing panel is required to disclose to the bank of any variations to the purchase price. In the event that you were to refuse your conveyancer to report the price change to your bank then they would have no choice but to disinstructing themselves from acting for you and the bank.