My wife and I are acquiring a newly constructed flat in East Ham and my lawyer is telling me that she is duty bound to the mortgage company to reveal incentives from the seller. I am under pressure to sign contracts and I would rather not prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am the registered owner of a freehold residence in East Ham but still invoiced for rent, why is this and what is this?
It is rare for properties in East Ham and has limited impact for conveyancing in East Ham but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
My wife and I buying a detached bungalow in East Ham. Our aim is to an extension at the rear at the house.Will the conveyancing process involve enquiries to determine if these works are permitted?
Your property lawyer should check the deeds as conveyancing in East Ham can on occasion identify restrictions in the title documents which restrict certain works or necessitated the permission of a 3rd party. Many extensions require local authority planning permissions and approval under the building regulations. Certain locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
I am purchasing a property in East Ham. A rare aspect is that the roof has a solar panel. RBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with RBS your lawyer must follow the formal instructions outlined in Part 2 of UK Finance Lenders’ Handbook for RBS. The CML Handbook sets out minimum conditions for solar panel roof-space leases, and solicitors are required to report to RBS where a lease does not meet these requirements. The provisions relate to the installation of panels on properties countrywide and is not isolated to East Ham.
The mortgage over my property is with Clydesdale for my property in East Ham. Conveyancing was finalised some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
Clydesdale must be informed of your intention before letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. It may be that Clydesdale will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. It should not be necessary to do this via a Clydesdale conveyancing panel lawyer.
Is there anything unique about your site and other web based conveyancing brokers when it comes to conveyancing in East Ham?
At this site obtain an accurate quote from a Solicitor or Licensed Conveyancer that understands the nuances for your conveyancing in East Ham. As opposed to estate agents and brokerage sites we do not charge firms a commission if you instruct them for your property ownership legalities in East Ham
My cousin has encouraged me to instruct his conveyancing solicitors in East Ham. Should I find my own property lawyer?
No doubt the best way to select a conveyancing solicitor is to seek referrals from friends or family who have used the solicitor you're considering.
What is the reason for my conveyancer requiring numerous items of ID before I can proceed with my conveyancing in East Ham?
East Ham conveyancing practitioners are duty bound by the Law Society, Solicitors Regulation Authority, the Land Registry and current AML Regulations to record that the have checked the identity of their clients. It is also sometimes a condition of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have information such as your full names, national insurance number and DOB.