Can the conveyancing lawyers that you recommend carry out conveyancing in Barking by way of an attended exchange?
There are a few conveyancing experts who can conduct attended exchanges. Do contact us to obtain a fee calculation and details as to dates.
Are all Barking Conveyancing Quality Solicitors on the Virgin Money conveyancing list of approved firms?
A selection of lenders now utilise CQS as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
I am currently in the process of buying my council flat in Barking. I have a mortgage offer with Clydesdale. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
I have a mortgage with Co-operative for my property in Barking. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Co-operative?
Co-operative must be informed of your intention in advance of renting your property as this is likely to be a breach of Co-operative’s mortgage conditions. In many cases banks or building societies 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 Co-operative directly. You need not do this via a Co-operative conveyancing panel lawyer.
I am buying my first flat in Barking with a mortgage from Chelsea Building Society. The builders would not reduce the amount so I negotiated 6k of extras instead. The house builders rep told me not reveal to my solicitor about this side-deal as it may put at risk my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Barking is where the house is located. Can you offer any advice?
Flying freeholds in Barking are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Barking you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Barking may determine 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.
I am attracted to a two maisonettes in Barking both have in the region of forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area.
After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Barking. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a Barking conveyancing firm who can help.
An example of a Lease Extension decision for a Barking flat is 240 Strone Road in January 2014. the tribunal held that the price to be paid for the freehold interest was£23,538 of which£13,017 is attributable to the ground floor flat and £10,521 to the first floor flat. This case was in relation to 2 flats. The remaining number of years on the lease was 65.5 years.
What can I do to establish who owns a property in Barking?
On the basis that the premises is registered with HMLR, and you have enough details of the address of the premises, you should be able to obtain results from the HMLR of the registered proprietor for a fee.