We are planning to buy a 3 bedroom apartment in Waltham Abbey with a mortgage. We like our Waltham Abbey solicitor, however the bank says he's not on their "panel". We have to appoint one of the bank panel solicitors or keep our Waltham Abbey solicitor and pay for one of their panel firms to represent them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer 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. A further alternative is for your Waltham Abbey conveyancing solicitor to apply to be on the conveyancing panel.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel conveyancer as I would much rather appoint a Waltham Abbey based conveyancing firm?
You should check but the chances are that appoint one of their panel conveyancers if you take up the "fee-free" incentive. Contact the lender to check if they make available a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Waltham Abbey.
I am helping my aunt sell her house in Waltham Abbey. Will the solicitor commission the EPC or should I organise this?
After the demise of Home Packs, energy performance certificates was left as a compulsory component of selling a property. An energy performance certificate must be commissioned before the property is advertised. It is not a task that law firms normally arrange. If you are instructing a Waltham Abbey conveyancing solicitor they might be willing to arrange energy assessments due to their contacts with reputable local energy assessors
I currently have a mortgage with Clydesdale for my property in Waltham Abbey. Conveyancing was finalised a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Clydesdale?
Clydesdale must be informed of your intention prior to renting your property as this is likely to be a breach of Clydesdale’s mortgage conditions. It may be that Clydesdale will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. It should not be necessary to do this via a Clydesdale conveyancing panel lawyer.
I recently had an offer agreed on an apartment in Waltham Abbey. My financial adviser pressured me to appoint their conveyancer. I paid an upfront payment of £200. Shortly after, the conveyancer contacted me to say that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Have completed on a a detached house in Waltham Abbey , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Waltham Abbey conveyancing solicitor has been painfully slow, so I want to check that my name is registered.
There is nothing unique about conveyancing in Waltham Abbey registration formalities. As opposed to being determined by geographic area, timescales can vary according to the party submitting the application, whether it is in order and if the Land registry must send notices to any other persons or bodies. Currently roughly 80% of such applications are fully dealt with in less than three weeks but some can be subject to extensive delays. Historically registration is effected once the buyer has moved in to the premises thus an expedited registration is not typically an essential issue but if it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Waltham Abbey differ for new build properties?
Most buyers of new build property in Waltham Abbey approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is built. This is because developers in Waltham Abbey usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Waltham Abbey or who has acted in the same development.
Having had my offer accepted I require leasehold conveyancing in Waltham Abbey. Before diving in I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Waltham Abbey - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the leaseholder of a second floor flat in Waltham Abbey. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Absolutely. We are happy to put you in touch with a Waltham Abbey conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Waltham Abbey residence is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case was in relation to 2 flats. The unexpired lease term was 69.26 years.