Me and my partner are soon to complete buying a property in Hackney Marshes but as a result of damage from the recent storms I have managed to agree recompense from the owner of three thousand pounds in the form of a reduction in the price. I had intended this to be dealt with as part of a side agreement but HSBC will not permit this. Should they have been informed?
Your conveyancer that is on the HSBC approved list is required to inform HSBC of any changes to the sale price. If you prohibit your solicitor to disclose the price change to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new conveyancing practitioner for your conveyancing in Hackney Marshes.
My brother-in-law has suggested I instruct a conveyancing solicitor in Hackney Marshes. I I would like to check whether they are accepted on the Leeds Building Society conveyancing panel. Could you help?
The first thing to do is contact your lawyer and ask them if they are on the lender panel. Otherwise you can call Leeds Building Society who may be able to assist.
My wife and I purchased a renovated Georgian house in Hackney Marshes. Conveyancing lawyer acted for me and Aldermore. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the matching property. Is it worth asking Aldermore to clarify?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hackney Marshes and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with your conveyancing lawyer who conducted the work.
I'm buying my first flat in Hackney Marshes with a mortgage from Coventry Building Society. The builders refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not inform my solicitor about this side-deal as it could impact my mortgage with the lender. Is this normal?.
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.
I am looking for a leasehold apartment up to £305k and identified one near me in Hackney Marshes I like with a park and railway links in the vicinity, the downside is that it only has 52 years unexpired on the lease. There is not much else in Hackney Marshes suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
I have been sourcing a conveyancing lawyer in Hackney Marshes for my house move. Can I see a firm’s record with the legal regulator?
One may search for documented Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA may monitor call for training reasons.