Can the conveyancing solicitors that you recommend handle conveyancing in Bow by way of an attended exchange?
We do have a number of conveyancing specialists carrying out 24hr exchanges. Do contact us to secure a fee calculation and details as to availability.
We were going to get a AIP from Skipton this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Skipton recommend any Bow solicitors on the Skipton conveyancing panel, or is it better to go independently?
You will need to appoint Bow solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Bow building society branch on numerous occasions and was told they are content with the situation and they will lend. My Bow conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. Who do I believe?
As long as the lawyer is on the mortgage company panel, she or he must adhere to the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I've read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Bow solicitor - who is on the Principality conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Bow surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My colleague advised me that where I am buying in Bow I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Bow conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Bow around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Bow.
I'm purchasing a new build house in Bow with a mortgage from TSB. The sellers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not reveal to my solicitor about this deal as it would affect my mortgage with TSB. Do I keep my lawyer in the dark?.
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.
Should I use a Bow conveyancing practitioner based in the vicinity that I am hoping to buy? I have an old university friend who can handle the legal work but his firm is located over three hundred kilometers drive away.
The benefit of a local Bow conveyancing practice is that you can attend the office to execute documents, present your identification documents and apply pressure on them where appropriate. They will also have local intelligence which is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and they were content that must outweigh using an unfamiliar Bow conveyancing lawyer just because they are local.
Last January I purchased a leasehold property in Bow. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
After months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Bow. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We can put you in touch with a Bow conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Bow property is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.