We are purchasing our first home. The lawyer has messagedto ask if we would like to purchase additional conveyancing searches. We are really unsure what's necessary for conveyancing in Forest Hill
The quantity and type of Forest Hill conveyancing searches should be triggered based entirely on the property, the location, the probability of any of these risks, your knowledge of the area and risks, your general attitude to risk. What is important is that you adequately understand what information the searches could give you. Then you can decide if you personally think you need that search. Should you be unsure, ask your property lawyer to explain.
Is it the case that all Forest Hill CQS (Conveyancing Quality Scheme) solicitors are on the Coventry BS conveyancing list of approved solicitors?
It is true that some banks and building societies now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
I can not work out if my mortgage offer requires a lease extension. I have called my Forest Hill building society branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My Forest Hill conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they would not lend based on their specific requirements. I have no idea who is right.
The conveyancer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Bank of Ireland have agreed my mortgage in principle, my offer on a house in Forest Hill has been agreed to, what are the next steps?
Your estate agent will need to be advised as to your solicitor's details (ensure that the solicitors are on the bank’s panel). Contact Bank of Ireland or the broker and finish off any outstanding documentation. Bank of Ireland will sellect a valuer who will get in contact with the selling agent or owners to schedule a time for the valuation to happen. Once conducted (assuming no problems) it takes about a week to receive the mortgage offer. Bank of Ireland will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Forest Hill.
My colleague recommended that if I am purchasing in Forest Hill I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Forest Hill conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about Forest Hill around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information about Forest Hill.
Am I better off to instruct a Forest Hill conveyancing practitioner based in the vicinity that I am purchasing? We have a good friend who can execute the legal formalities however his firm is located a couple of hundredmiles away.
The benefit of a local Forest Hill conveyancing firm is that you can attend the office to sign paperwork, present your identification documents and apply pressure on them where appropriate. Having local Forest Hill know how is a plus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and the majority were happy that must surpass using an unfamiliar Forest Hill conveyancing solicitor just because they are round the corner.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Forest Hill. Conveyancing solicitors have are about to be appointed. Will they explain the issues?
Most houses in Forest Hill are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Forest Hill so you should seriously consider looking for a Forest Hill conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer should report to you on the legal implications.
I am the leaseholder of a basement flat in Forest Hill. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
in cases where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to assess the sum to be paid.
An example of a Lease Extension decision for a Forest Hill residence is Flat 1 40-42 Ewelme Road in August 2012. the Tribunal assessed the premium for the lease extension in the sum of £11,800 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 61.81 years.
For various reasons I am unable to be present at my Forest Hill conveyancing solicitors office to execute documents for conveyancing in Forest Hill – will this be an issue?
No. Forest Hill conveyancing lawyers can conduct conveyancing transactions for clients from a distance. It is not necessary for you to be able to attend a Forest Hill conveyancers office. They can deal with all communications using post, email, telephone and fax.