My mortgage broker says he needs my Hackney Wick lawyer’ panel reference for the Santander conveyancing panel. How do I discover this. I have tried my local Hackney Wick branch but they cant find it on their system.
You are best placed to get this information from your Hackney Wick lawyer . Most Hackney Wick conveyancing practices will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
I am assisting my sister sell her property in Hackney Wick. Does the solicitor arrange the EPC or it is for me to coordinate?
After the abolition of Home Information Packs, energy performance certificates was retained a mandatory element of selling a property. An energy performance certificate must be commissioned before the property is placed on the market. This is not something that solicitors normally organise. Where you are instructing a Hackney Wick conveyancing solicitor they may help arrange EPC’s given their relationships with long established Hackney Wick assessors
I am being told by my solicitor that chancel insurance is required on my purchase. What is the level of cover for Hackney Wick conveyancing?
The right level of chancel indemnity insurance should be dictated by who your lender. It would differ for example between National Westminster Bank and Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such insurances.
I currently have a mortgage with Nottingham for my property in Hackney Wick. Conveyancing has been completed 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nottingham?
Your original mortgage agreement with Nottingham will provide that you need their approval before renting your property as this is likely to be a breach of Nottingham’s mortgage conditions. It may be that Nottingham 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 Nottingham directly. It should not be necessary to do this via a Nottingham conveyancing panel solicitor.
Despite weeks of looking the Title Certificate and documents to my property are lost. The conveyancers who did the conveyancing in Hackney Wick 10 years ago are no longer around. What are my next steps?
Gone are the days when you need to have the physical original deeds to establish that you are the registered proprietor of land or property, as the Land Registry hold details of all registered land or property electronically.
I was pointed in your direction by a couple of local selling agents in Hackney Wick to get a quote from a solicitor using your seach tool. Is there a financial advantage for Estate Agents to recommend your lawyers over alternative conveyancing organisations?
We don’t give any financial incentive for directing people our way. We found it would be just too difficult to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Hackney Wick. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Hackney Wick are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. it is apparent that you are purchasing in Hackney Wick so you should seriously consider looking for a Hackney Wick conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer should report to you on the legal implications.
My wife and I have hit a brick wall in trying to purchase the freehold in Hackney Wick. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee landlord or if there is disagreement 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 LVT to decide the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Hackney Wick property is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case affected 2 flats. The unexpired term as at the valuation date was 72.02 years.
We own a leasehold flat in Hackney Wick. Conveyancing was completed in 21012. I have been told that I mustn’t let the lease length get too low. Is this correct?
Hackney Wick domestic long term leases are for a prescribed period - normally 99 years when they are first granted. However many flats in Hackney Wick were constructed or converted 35 or more years ago and so these leases now have less than 80 years left to run. That may seem like a long time but Banks, Building Societies and other mortgage lenders generally need leases to have at least 75 years left to adequate security. This means that when you come to sell the property you will need a lease extension if you are getting close to eighty years. To maximise the saleability of your property you should be considering whether or not to extend your lease well in advance of selling the property. Furthermore advantages to doing so before the lease hits 80 years as when the lease falls below eighty years the premium you have to pay to extend starts to get a lot more expensive.