Unfortunately I am unable to travel far from Cambridge Heath. What is the rationale as to why all Cambridge Heath solicitors are not on all mortgage company panels?
Even though it may seem unfair for mortgage companies to limit who can represent them, from the public’s or lawyer’s perspective, the other side of the coin is that mortgage companies are increasingly anxious and feel it vital to protect them from illegal activities. As a result of this concern mortgage companies are limiting their panel of approved conveyancing lawyers to a size that they are happy to control.
I am only a couple days away from an exchange on a flat in Cambridge Heath and my mum and dad have transferred the ten percent deposit to my conveyancer. I am now advised that as the deposit has not come from me my property lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The solicitor is duty bound to clarify with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.
I am assisting my aunt sell her property in Cambridge Heath. Does the conveyancer commission an energy assessment or do I organise this?
Following the abolition of HIPs, EPC’s remained a required component of selling a property. An EPC needs to be to hand in advance of the property being put on the market. This is not a task that conveyancers ordinarily arrange. If you are using a Cambridge Heath conveyancing solicitor they may be able to arrange energy performance certificates due to their relationships with long established Cambridge Heath assessors
Is it the case that all Cambridge Heath solicitor practices on the TSB conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the TSB approved list of solicitors they would need to be regulated by the SRA. The majority of lenders do list licenced conveyancers on their panel in which case such practice would be overseen by the CLC.
I currently have a mortgage with Virgin Money for my property in Cambridge Heath. Conveyancing has been completed some time 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 buy-to-let mortgage or inform Virgin Money?
Virgin Money must be informed of your intention prior to renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Virgin Money directly. You need not do this via a Virgin Money conveyancing panel lawyer.
What will a local search tell me about the house I am purchasing in Cambridge Heath?
Cambridge Heath conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company for instance Searchflow The local search plays a central role in most Cambridge Heath conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your new home. The search should reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Cambridge Heath is where the house is located. Can you offer any opinion?
Flying freeholds in Cambridge Heath are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cambridge Heath 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 Cambridge Heath 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 property.
Do you have any top tips for leasehold conveyancing in Cambridge Heath with the intention of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Cambridge Heath can be bypassed if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives. If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Cambridge Heath state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord approving such alterations. If you fail to have the paperwork in place you should not communicate with the landlord without checking with your solicitor first. If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share certificate. Obtaining a new share certificate is often a lengthy formality and frustrates many a Cambridge Heath conveyancing deal. If a new share is needed, do contact the company officers or managing agents (if applicable) for this at the earliest opportunity. The majority of freeholders or managing agents in Cambridge Heath levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Cambridge Heath. If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as over rather than unsettled.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Cambridge Heath conveyancing firm to help?
You certainly can. We are happy to put you in touch with a Cambridge Heath conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Cambridge Heath premises 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.