We are selling our home in Colindale. Will my property lawyer have to be required to be on the Santander conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Santander conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
4 months have elapsed since my purchase conveyancing in Colindale took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying my first flat in Colindale benefiting from help to buy. The sellers would not reduce the amount so I negotiated 6k of additionals instead. The sale representative told me not inform my solicitor about the side-deal as it would put at risk my loan with Bank of Ireland. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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 property I have offered on last month in what should have been a straight forward, no chain conveyancing. Colindale is where the house is located. Can you shed any light on this issue?
Flying freeholds in Colindale are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Colindale you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Colindale may decide 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 premises.
I need to appoint a conveyancing solicitor for some conveyancing in Colindale. I have discover a web site which looks to be the perfect offering If it is possible to get all formalities completed via phone that would be preferable. Do I need to be wary? 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 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 Colindale conveyancing firm to represent me?
in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to arrive at the amount due.
An example of a Lease Extension case for a Colindale premises is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case affected 1 flat. The remaining number of years on the lease was 70.25 years.
Are there common defects that you come across in leases for Colindale properties?
Leasehold conveyancing in Colindale is not unique. Most leases are drafted differently and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:
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A provision for the recovery of money spent for the benefit of another party.
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Bank of Scotland, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.