My fiance and I are acquiring a maisonette in Custom House. My Conveyancer is not on the bank solicitor list. Am I still permitted to appoint my Custom House conveyancing solicitor even though they are excluded from the mortgage company panel?
You have numerous alternatives available to you here
- Carry on with your preferred Custom House solicitor but your bank will undoubtedly use a conveyancer from their conveyancing panel. The net result is additional fees together with probable interruption.
- Choose a new conveyancer to act in the purchase, ensuring that they are on the bank conveyancing panel.
- Convince your conveyancing practitioner to do everything possible to get accepted on the lender’s conveyancing panel
Is there a reason why leasehold purchase conveyancing in Custom House costs more?
Custom House leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Me and my brother own a terraced Georgian house in Custom House. Conveyancing lawyer acted for me and Barclays Direct. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Custom House and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with your conveyancing solicitor who conducted the work.
I am buying my first flat in Custom House with a mortgage from Accord Mortgages Ltd. The sellers would not reduce the amount so I negotiated 6k of extras instead. The property agent told me not reveal to my conveyancer about this extras as it may jeopardize my loan with Accord Mortgages Ltd. Should I keep quiet?.
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.
Should I be wary by 3rd parties that I am dealing with are recommending a factory type conveyancing firm as opposed to a High Street Custom House conveyancing company?
As with lots of service providers, often referrals from family and friends can be worth their weight in gold. Nevertheless there are many people with a vested interest in a conveyancing matter; estate agents, mortgage brokers and mortgage companies might all put forward solicitors to instruct. Sometimes the lawyers might be known to one of the organisations as one of the best in their field, but occasionally there may be a financial incentive behind the recommendation. You have the discretion to appoint your preferred conveyancer. Don't forget that most mortgage providers specify a panel list of solicitors you have to use for the mortgage related work in your transaction.
My fiance and I may need to sub-let our Custom House garden flat temporarily due to a career opportunity. We used a Custom House conveyancing practice in 2004 but they have since shut and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Custom House do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I have given up seeking a lease extension in Custom House. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Custom House conveyancing firm who can help.
An example of a Lease Extension case for a Custom House residence 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 was in relation to 1 flat. The number of years remaining on the existing lease(s) was 69.77 years.