My West Norwood lawyer has spotted an inconsistency when comparing the surveyor’s assumptions in the valuation report and what is in the legal papers for the property. My solicitor says that he must check that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach legitimate?
Your lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am selling my apartment. I had a double glazing fitted in December 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Skipton are being problematic. The West Norwood solicitor who is on the Skipton conveyancing panel is saying indemnity insurance will be fine but Skipton are insisting on a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton 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.
About to purchase house in West Norwood. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the West Norwood lawyer is on the Coventry BS conveyancing panel.
I was told three weeks ago that my mortgage has been agreed to by Skipton. Is it usual for Skipton to only issue the offer once my solicitor in West Norwood is approved on their conveyancing panel? Skipton have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will my solicitor be raising enquiries concerning flooding as part of the conveyancing in West Norwood.
Flooding is a growing risk for lawyers specialising in conveyancing in West Norwood. There are those who buy a house in West Norwood, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, but there are a various searches that can be initiated by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in West Norwood. The conventional set of completed inquiry forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a usual inquiry of the owner to find out whether the property has ever been flooded. If flooding has previously occurred which is not disclosed by the owner, then a buyer may bring a legal claim for losses resulting from an incorrect response. The purchaser’s solicitors will also commission an environmental report. This will indicate whether there is a recorded flood risk. If so, further investigations should be carried out.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, no chain conveyancing. West Norwood is the location of the property. Can you shed any light on this issue?
Flying freeholds in West Norwood 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 West Norwood you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Norwood 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 residence.
As co-executor for the estate of my grandmother I am disposing of a property in Cardiff but live in West Norwood. My lawyer (who is 260 kilometers awayrequires that I execute a stat dec before the transaction finalising. Can you recommend a conveyancing solicitor in West Norwood to witness this legal document for me?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are based in West Norwood
I work for a busy estate agent office in West Norwood where we see a few flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local West Norwood conveyancing solicitors. Please can you clarify whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
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 buyer.
We have reached the end of our tether in trying to reach an agreement for a lease extension in West Norwood. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to assess the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a West Norwood flat is 172 Knollys Road in February 2012. On 13 September 2011 District Judge Guinan made a vesting order and the proceedings were transferred to the tribunal for the purpose of assessing the premium which was subsequently calculated to be £24,003 This case was in relation to 4 flats. The remaining number of years on the lease was 98.28 for 3 flats other than the garden flat which had 66.04 years remaining.