Is it necessary during the course of the conveyancing process to pop into the offices of the solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in East Ham so that I can attend their offices if required.
As opposed to 12 years ago, most mortgage companies no longer oblige their conveyancing panel solicitor to witness the mortgagors signature. It will still be necessary for you to hand over identification documents and there are still manifest advantages to choosing a local solicitor, in your situation a conveyancing solicitor in East Ham.
My husband and I have organised the release of further monies on our home loan from Clydesdale as we wish to carry out improvements to our property in East Ham. Are we obliged to appoint a nearby East Ham solicitor on the Clydesdale conveyancing panel to deal with the paperwork?
Clydesdale do not ordinarily instruct a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Clydesdale conveyancing panel.
We were going to get a OIP from Lloyds this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Lloyds recommend any East Ham solicitors on the Lloyds conveyancing panel, or is it better to go independently?
You will need to appoint East Ham solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local East Ham solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your East Ham postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in East Ham.
I'm buying a new build house in East Ham with the aid of help to buy. The developers would not move on the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not disclose to my lawyer about the side-deal as it may adversely affect my loan with Barclays . 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 house I put an offer in last month in what should have been a simple, chain free conveyancing. East Ham is the location of the property. Can you shed any light on this issue?
Flying freeholds in East Ham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside East Ham you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in East Ham may determine 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 property.
We're new to the buying process - agreed a price, but the estate agent advised that the seller will only proceed if we use the agent's preferred solicitors as they need a ‘quick sale’. We would rather use a local solicitor with experience of conveyancing in East Ham
It is highly unlikely the sellers are behind this. Should the vendor desire ‘a quick sale', alienating a genuine buyer is counter productive. Bypass the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you are going to use your own,trusted East Ham conveyancing lawyers - rather thanthose that will give their negotiator at the agency a commission or achieve conveyancing targets set by head office.
I am looking at a two apartments in East Ham which have approximately forty five years left on the lease term. should I be concerned?
A lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field.
I inherited a ground flat in East Ham. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Where there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the price.
An example of a Lease Extension decision for a East Ham premises 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 unexpired residue of the current lease was 69.77 years.