Our lender has recommended a law firm on their panel based in Custom House but I would rather instruct a conveyancing lawyer in Custom House local to me. Can you help?
It is by no means the case that all Custom House conveyancing practices are approved and listed on all lender’s conveyancing panel. Please make use of the above search tool to choose a Custom House conveyancing solicitor on the on the mortgage company panel.
This question may be naive but I am new to the home buying as FTB of a garden flat in Custom House. Do I pick up the keys to the house on the completion date from my conveyancer? If this is the case, I will use a High Street conveyancing solicitor in Custom House?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the purchase money to the vendor’s conveyancers, and shortly after the monies have arrived, you should be invited to pick up the keys from the selling Agents and move into your new home. Usually this happens early afternoon.
When it comes to lenders such as Santander, do Custom House conveyancing practitioners have to pay an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I recently had an offer agreed on a house in Custom House. My mortgage broker recommended their conveyancers. I paid an on account payment of £150. Shortly after, the lawyer called me sheepishly admitting that they were not on the Nottingham conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nottingham panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
It has been 2 months following my purchase conveyancing in Custom House took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. 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 premises 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 am purchasing my first flat in Custom House with a mortgage from Chelsea Building Society. The builders would not budge the price so I negotiated 6k of extras instead. The sale representative told me not disclose to my solicitor about this extras as it would affect my mortgage with Chelsea Building Society. 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.
I'm remortgaging my existing property to a buy to let loan with Britannia and I will use the rest of the raised equity towards further property. The location we are looking at is Custom House. Will your conveyancers be able to act for the two banks and tie in the transactions?
Make use of our comparison tool on this page to ensure that the solicitors are approved by both lenders. Having checked that they are your conveyancer should be able to connect the two deals but you should talk with you conveyancer and specify your desired outcome and requirements.
Expecting to exchange soon on a leasehold property in Custom House. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Custom House should include some of the following:
-
You should have a good understanding of the building insurance obligations It needs to be made clear to you whether the lease permits you to add or improve aspects of the property- you should know whether any restrictions applies to all alterations or just structural alteration, and whether consent is mandated necessary Repair and maintenance of the flat Who has the liability to repair and maintain the main walls and foundations. It is important that you know which party is responsible the repair and maintenance of every part of the building You would want to be sent a copy of the lease
I am the proprietor of a ground floor flat in Custom House. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to determine the price.
An example of a Lease Extension case for a Custom House property is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The unexpired residue of the current lease was 69.77 years.