My lawyer has identified a a legal deficiency with the lease for the apartment we are buying in Borehamwood. The seller’s lawyers have suggested title insurance as a solution. We are content with insurance and will pay for it. Our conveyancing practitioner has advised that he must check that the bank is willing to move forward with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. These conveyancing instructions have to be complied with.
Do the Building Society Association intend to launch a online directory to to identify solicitors on the Norwich and Peterborough Building Society conveyancing panel for instance in Borehamwood?
We would not expect to be advised of any plans on the part of the BSA to develop such a register.
Is there a list of Yorkshire BS panel solicitors in Borehamwood on the Council of Mortgage Lender’s Website?
No. There is no such facility on the CML or Building Society Association websites. Very few mortgage companies make their panel listings open the public online. If you are in need of a Borehamwood solicitor on the Yorkshire BS please use our facility.
We are getting a further advance on our home loan from Kent Reliance as we wish to carry out alterations to our property in Borehamwood. Are we obliged to select a nearby Borehamwood solicitor on the Kent Reliance conveyancing panel to handle the paperwork?
Kent Reliance don't usually require firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance conveyancing panel.
I currently have a mortgage with Principality for my property in Borehamwood. Conveyancing has been completed months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?
Principality must be informed of your intention prior to renting your property as this is likely to be a breach of Principality’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 Principality directly. It should not be necessary to do this via a Principality conveyancing panel solicitor.
Due to the guidance of my in-laws I had a survey completed on a house in Borehamwood ahead of appointing lawyers. I have been informed that there is a flying freehold element to the house. My surveyor advised that some mortgage companies may not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Borehamwood. Conveyancing may be slightly more expensive based on your lender's requirements.
Looking forward to sign contracts shortly on a ground floor flat in Borehamwood. Conveyancing solicitors have said that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Borehamwood should include some of the following:
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Responsibility for repairing the window frames Who has the liability to repair and maintain the block. It is important that you know who is responsible the repair and maintenance of all parts of the block and communal areas The total extent of the premises. This will be the flat itself but could also incorporate a loft or basement if relevant. What options are open to you if another tenant in the building is in violation of a provision in their lease?
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Borehamwood conveyancing firm to help?
in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the price.
An example of a Lease Extension decision for a Borehamwood property is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case affected 1 flat. The unexpired residue of the current lease was 71.73 years.
Please specify the differing property law services that Borehamwood conveyancing solicitors undertake?
Most Borehamwood conveyancing practices manage to handle a broad range of assistance to home and land proprietors, sellers, buyers, freeholders and tenants which may include:
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Private sale conveyancing in Borehamwood or wider afield
Domestic purchase conveyancing in Borehamwood and also around the country
Complex land law issues Shared ownership and shared equity scheme Equity transfer between partners and families Borehamwood conveyancing for Buying off mortgagees in possession in and outside of Borehamwood