I am expecting a offer of a home loan from Nat West. I would like to employ the services of a Licensed Conveyancer in Chinatown. Does the Nat West Solicitor panel exclude Licensed Conveyancers?
The Nat West conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My wife and I are getting closer to an exchange on a house in Chinatown and my mum and dad have sent the ten percent deposit to my conveyancing practitioner. I am now informed that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my mortgage company. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
Your conveyancer is legally required to clarify with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one near me in Chinatown I like with a park and transport links nearby, the downside is that it's only got 61 years on the lease. There is not much else in Chinatown in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan that many years may be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
How do I search for a Chinatown law firm on the Nottingham Building Society conveyancing panel? I am a keen cyclist and am willing to travel upto 10miles to meet the solicitor.
You can use the facility on this website. Please pick a lender and your location and you will see a number of Chinatown conveyancing lawyers located nearest you. We have detailed some Chinatown conveyancing firms towards the end of this page and you can call them to verify whether they are on the Nottingham Building Society member panel
I need to retain a conveyancing solicitor for some conveyancing in Chinatown. I've chance upon a web site which seems to have the perfect answer If there is a chance to get all the legals done via email that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am in need of some leasehold conveyancing in Chinatown. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Chinatown - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have given up trying to purchase the freehold in Chinatown. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to determine the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Chinatown residence is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case was in relation to 2 flats. The number of years remaining on the existing lease(s) was 73.92 years.