Unfortunately I am unable to travel far from Hayes. What is the rationale as to why all Hayes solicitors are not on all bank panels?
As inequitable as it may seem for mortgage companies to restrict who can represent them, from the public’s or solicitor’s perspective, the flip side is that lending institutions are increasingly anxious and feel it essential to protect them from mortgage fraud. As a consequence of this concern mortgage companies have restricted their panel of approved conveyancing lawyers to a manageable size.
A relative advised me that in purchasing a property in Hayes there could be various restrictions preventing external alterations to a property. Is this right?
We are aware of a number of properties in Hayes which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Hayes should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My wife and I buying a 4 bedroom semi-detached house in Hayes. Our aim is to carry out an extension to the side at the house.Will the conveyancing process include enquiries to ascertain if these works are prohibited?
Your conveyancer will review the deeds as conveyancing in Hayes can sometimes reveal restrictions in the title documents which prevent certain changes or require the consent of another owner. Some extensions need local authority planning permissions and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be wise to check these things with a surveyor ahead of any purchase.
We are getting a further advance on our mortgage from Coventry BS as we wish to conduct a loft conversion to our property in Hayes. Are we obliged to choose a bricks and mortar Hayes solicitor on the Coventry BS conveyancing panel to deal with the legals?
Coventry BS don't usually appoint firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS panel.
I require expedited conveyancing in Hayes as I am under pressure to exchange contracts in less than 3 weeks. A home loan is not required. Is it possible to avoid the conveyancing searches to save money and time?
If.Given you are not getting a mortgage you are at free not to do searches although no lawyer would suggest that you don't. Drawing on our experience of conveyancing in Hayes the following are examples of issues that can crop up and adversely affect future mortgageability: Enforcement Notices, Outstanding Charges, Outstanding Grants, Railway Schemes,...
I am purchasing a new build house in Hayes benefiting from help to buy. The builders would not move on the price so I negotiated 6k of additionals instead. The property agent advised me not to tell my conveyancer about this side-deal as it may impact my loan with the bank. 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 tempted by the attractive purchase price for a two maisonettes in Hayes both have in the region of 50 years unexpired on the leases. should I be concerned?
There are no two ways about it. A leasehold apartment in Hayes is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. For most buyers and banks, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hayes conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Hayes conveyancing firm to assist?
Where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a Hayes premises is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case was in relation to 2 flats. The unexpired term as at the valuation date was 69 years.
Is planning permission required to convert a house into a couple of appartments in Hayes? This has been done to a house next door to a friend in Hayes and was not aware of it happening until after the works were done.
Planning Consent yes. Building Regulations yes.