Our solicitor has identified a a legal deficiency with the lease for the apartment we are purchasing in Crews Hill. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner says that he must ensure that the bank is willing to move forward with this solution. Who is the client here, us or the bank?
Notwithstanding that you have a mortgage offer from the lender 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 provisions. You and the lender are the client. The appropriate lender specifications have to be complied with.
What is the first thing I need to know about purchase conveyancing in Crews Hill?
Not many law firms shout this from the rooftops but conveyancing in Crews Hill or throughout England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there exists plenty of room for conflict between you and other parties involved in the ownership transfer. For example, the seller, estate agent and even potentially your mortgage company. Appointing a lawyer for your conveyancing in Crews Hill should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the transaction whose interest is to protect your best interests and to protect you.
On occasion a potential adversary will attempt to persuade you that you should follow their advice. For instance, the selling agent may claim to be helping by claiming that your conveyancer is slow. Or your financial adviser may try to convince you to do something that is against your solicitors advice. You should always trust your lawyer above all other parties in the home moving process.
I'm buying a new build house in Crews Hill benefiting from help to buy. The developers would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not disclose to my conveyancer about the side-deal as it may jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
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.
I am looking for a conveyancing solicitor in Crews Hill for my house move. Is it possible to check a firm’s complaints history with the legal regulator?
One may review presented Solicitor Regulator Association (SRA) determinations arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find details Pre 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The regulator could recorded call for training requirements.
Last October I purchased a leasehold flat in Crews Hill. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Crews Hill conveyancing firm to act on my behalf?
Most definitely. We can put you in touch with a Crews Hill conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Crews Hill flat is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The unexpired term was 70.31 years.
Me and my wife have just had an offer agreed on a property and had an appointment on Tuesday with HSBC for the mortgage. They have informed me that when it comes to choosing a solicitor that unless they are on their approved list of conveyancing practitioners then we will incur an additional fee of about two hundred pounds. This is is due to the fact that they will then have to instruct a property lawyer to act for them in addition to the one we appoint for ourselves and we are liable for their invoice. I have requested HSBC to provide me with a list so I can seek estimates only from their approved conveyancers but was told that I need to check with each individual lawyer to see if they are on the panel. What would be the best way of going about this?
You should ask HSBC what their panel criteria is for a solicitor.Thereafter ask the property lawyer of your choice whether they fit that criteria and have they acted on mortgages for HSBC in the past. If the answer to those is yes, then just double check with HSBC. Alternatively please use our search tool and we may be able to find you a solicitor in Crews Hill on the approved list for HSBC.