Do all mortgage companies provide you with an approved list of Farringdon conveyancing solicitors? How do you know who is on the Bank of Ireland conveyancing panel?
Farringdon conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
I am the sole beneficiary of my late mum's will with all property in now in my sole name, including the my former home in Farringdon. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership will be regarded the same way as though I had purchased the property in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. many lenders would take a pragmatic view as this requirement chiefly exists to pick up on the purchase and immediately sell or the wholesaling and assigning of properties.
I am selling my flat. I had a double glazing fitted in May 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, TSB are being problematic. The Farringdon solicitor who is on the TSB conveyancing panel is recommending indemnity insurance as a solution but TSB are insisting on a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Planning on purchasing a house in Farringdon. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Farringdon conveyancer is on the Skipton conveyancing panel.
Should our lawyer be raising questions concerning flooding during the conveyancing in Farringdon.
Flooding is a growing risk for solicitors specialising in conveyancing in Farringdon. There are those who acquire a property in Farringdon, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, however there are a numerous searches that can be carried out by the purchaser or by their lawyers which can give them a better understanding of the risks in Farringdon. The standard completed inquiry forms given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the vendor to determine whether the property has suffered from flooding. In the event that the premises has been flooded in past which is not disclosed by the seller, then a buyer could bring a claim for damages stemming from an misleading response. The buyer’s conveyancers will also commission an environmental search. This should reveal whether there is a recorded flood risk. If so, additional investigations should be conducted.
It has been 3 months following my purchase conveyancing in Farringdon concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. 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 decided to have a survey carried out on a house in Farringdon prior to retaining solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some banks may refuse to grant a mortgage on such a house.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. If you e-mail us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Farringdon. Conveyancing will be smoother if you use a solicitor in Farringdon especially if they regularly deal with such properties in Farringdon.
I am on look out for some leasehold conveyancing in Farringdon. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is registered - and most are in Farringdon - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Farringdon conveyancing firm to assist?
Where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price payable.
An example of a Lease Extension case for a Farringdon flat is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The unexpired term as at the valuation date was 66.8 years.