I am selling my apartment in Upminster Bridge. Will the conveyancing practitioner need to be on the Virgin Money conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently in recent years.
A friend informed me that in purchasing a property in Upminster Bridge there may be various restrictions preventing external changes to the property. Is this right?
We are aware of anumerous of properties in Upminster Bridge which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Upminster Bridge should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are getting the release of further funds on our home loan from Barclays as we want to carry out renovations to our house in Upminster Bridge. Do we need to choose a high street Upminster Bridge solicitor on the Barclays conveyancing panel to deal with the legals?
Barclays would not normally require firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
I am due to exchange contracts on my apartment. I had a double glazing fitted in March 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Aldermore are being pedantic. The Upminster Bridge solicitor who is on the Aldermore conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I opted to have a survey done on a property in Upminster Bridge in advance of instructing conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies will refuse to issue a loan on such a house.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. Should you wish to call 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 accustomed to dealing with flying freeholds in Upminster Bridge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Upminster Bridge to see if the conveyancing costs will increase in light of this.
In surfing the internet for the term on line conveyancing in Upminster Bridge it shows results of numerous solicitorsin the area. How do I determine which is the suitable property lawyer for my move?
The ideal method of seeking the right conveyancer is through a trusted recommendation, so seek the counsel of colleagues and family who have bought a property in Upminster Bridge or the reputable estate agent or mortgage broker. Costs for conveyancing in Upminster Bridge differ, so it's a good idea to secure a minimum of three fee calculations from varying types of solicitors. Make sure that you know what costs in the quote includes.
I work for a long established estate agency in Upminster Bridge where we have experienced a number of leasehold sales derailed as a result of short leases. I have received contradictory information from local Upminster Bridge conveyancing firms. Please can you confirm whether the vendor of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Upminster Bridge conveyancing firm to act on my behalf?
Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to calculate the price.
An example of a Lease Extension case for a Upminster Bridge flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The remaining number of years on the lease was 57.5 years.
I have just had an offer accepted on a leasehold flat in Upminster Bridge and the mortgage adviser that we are using suggested his conveyancer. He quoted a thousand pounds excluding VAT and 3rd party costs. Does this sound reasonable?
Don't just go on 1 estimate. You should obtain like-for-like quotes for your conveyancing in Upminster Bridge. Then choose one that you are comfortable with and just as important, is on the approved list of the bank that you are sourcing your mortgage from.