We wanted to use a property lawyer in Waltham Cross for our house move. Our broker informed us that our bank Birmingham Midshires won't deal with them. Why is this not regarded as unfair competition?
Pre- 2008 most lenders had a different appetite for risk. Almost all Waltham Cross conveyancing firms would have been on many lender panels. The Financial Services Authority in 2010 carried out a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more data from law firms about their operations and their employees and set certain criteria such a completing on a minimum number of transactions. Many Waltham Cross conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Waltham Cross is amongst the hundreds of areas where the solicitors we list are members of the panel for Birmingham Midshires.
My uncle advised me that in purchasing a property in Waltham Cross there could be a number of restrictions preventing external changes to the property. Is this right?
There are anumerous of properties in Waltham Cross which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Waltham Cross should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Waltham Cross solicitor on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
I am due to exchange contracts on my flat. I had a double glazing fitted in July 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Santander are being pedantic. The Waltham Cross solicitor who is on the Santander conveyancing panel is recommending indemnity insurance as a solution but Santander are insisting on a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander 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.
Should my solicitor be raising questions regarding flooding as part of the conveyancing in Waltham Cross.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Waltham Cross. There are those who acquire a house in Waltham Cross, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, but there are a various searches that may be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Waltham Cross. The standard completed inquiry forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the vendor to find out whether the property has suffered from flooding. If flooding has previously occurred and is not notified by the seller, then a buyer could commence a compensation claim resulting from an incorrect answer. The buyer’s lawyers may also carry out an enviro search. This will higlight if there is any known flood risk. If so, additional inquiries will need to be conducted.
Me and my brother have a renovated Edwardian property in Waltham Cross. Conveyancing practitioner represented me and Alliance & Leicester . I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold under the exact same property. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Waltham Cross and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing solicitor who conducted the purchase.
Just had an offer accepted on a new build apartment in Waltham Cross. Conveyancing is daunting 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 conveyancing.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Waltham Cross
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
I am looking for a flat up to £305k and identified one close by in Waltham Cross I like with open areas and railway links nearby, the downside is that it's only got 49 years on the lease. There is not much else in Waltham Cross in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage that many years will likely be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.