I am acquiring a ground floor flat in Waltham. My lawyer is not on the lender solicitor panel. Can I still retain my Waltham conveyancing solicitor even though they are excluded from the lender list of approved lawyers?
You have a couple of alternatives available to you here
- Complete the deal with your existing Waltham conveyancing practitioner but your lender will need to use a conveyancer from their approved panel. The net result is additional fees and likely frustration.
- Choose a fresh solicitor to act in the purchase, making sure they are on the mortgage company conveyancing panel.
- Convince your property lawyer to pull out all the stops to join the lender’s panel of solicitors
My partner and I are buying a newly built duplex in Waltham and my conveyancer is informing me that she is duty bound to the lender to disclose incentives from the builder. I am on a tight deadline to exchange contracts and I don't want to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I happen to be the single recipient of my late mum's estate with all property in now in my sole name, including the house in Waltham. The Waltham property was put into my name in June. I plan to dispose of the property. I understand that there is a CML 6 month 'rule', meaning my proprietorship will be treated the same way as though I had purchased the property in June. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How sensible a view banks take of it, depend on the mortgage company as this requirement is primarily there to pick up on subsales or the wholesaling and assigning of property.
We have agreed to purchase a house in Waltham. One unusual aspect is that the roof has a solar panel. Kent Reliance have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Kent Reliance your lawyer must follow the formal requirements contained in Section two of UK Finance Lenders’ Handbook for Kent Reliance. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to Kent Reliance where a lease does not meet these provisions. The provisions relate to the installation of panels on properties nationwide and is not isolated to Waltham.
I'm in the process of viewing flats in Waltham and I am about to put in an offer. Is it sensible to have my property lawyer on ‘stand by’? I am planning to take a home loan with TSB.
You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. As you are getting a mortgage with TSB, ask your prospective lawyers if they are on the TSB conveyancing panel otherwise they can't do the mortgage legal work.
What does a local search inform me regarding the property my wife and I purchasing in Waltham?
Waltham conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations for example Onsearch The local search is essential in every Waltham conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what should have been a simple, chain free conveyancing. Waltham is the location of the property. Is there any advice you can give?
Flying freeholds in Waltham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Waltham you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Waltham may decide 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 premises.
I've recently bought a leasehold flat in Waltham. Do I have any liability for service charges relating to a period prior to completion of my purchase?
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. 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).
Leasehold Conveyancing in Waltham - Examples of Questions you should ask before Purchasing
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What prohibitions exist in the Waltham Lease? The prefered form of lease arrangement is a share of the freehold. In this situation the leaseholders enjoy being in charge if their destiny and although a managing agent is frequently employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.