My wife and I are buying a 2 bedroom apartment in Upminster Bridge with a mortgage. We wish to retain our Upminster Bridge conveyancer, but the lender says he's not on their "panel". We have to appoint one of the mortgage company panel firms or retain our Upminster Bridge conveyancer as well as pay for one of their panel lawyers to act for them. We regard this is unjust; can we not demand that the bank use our Upminster Bridge property lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 Upminster Bridge conveyancing solicitor to apply to be on the conveyancing panel.
My fiance and I are refinancing our apartment in Upminster Bridge with UBS. We have a son 19 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the UBS conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
First, rest assured that your UBS conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to UBS. This is solely used to protect UBS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of UBS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
four months have elapsed following my purchase conveyancing in Upminster Bridge took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Upminster Bridge. Conveyancing is a frightening process 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.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Upminster Bridge
The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are surveyor prepared.
I am looking for a flat up to £235,500 and found one near me in Upminster Bridge I like with a park and railway links in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in Upminster Bridge suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a home loan the remaining unexpired lease term will likely be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
My partner and I have an offer in principle from Bank of Ireland who indicated we could borrow up to £218k. When do we need to instruct a practitioner for conveyancing? Upminster Bridge is where we plan to move to.
You can appoint a conveyancing practitioner now so that the lawyer can open the ledger so they can do their AML checks etc. Once you wish them to commence work you will be asked for a payment on account usually approximately £200. That would normally be once you have the mortgage offer and survey results, but should you wish to speed the process you can get going quicker even though you may be risking some money.