Our conveyancer has discovered a a legal deficiency with the lease for the apartment we are buying in Herne Hill. The other side have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancer has advised that he must be satisfied that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. These conveyancing instructions must be adhered to.
I purchased a freehold house in Herne Hill but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Herne Hill and has limited impact for conveyancing in Herne Hill but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Do I have to attend the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Herne Hill so that I can pop in to their offices if required.
Whereas this was necessary ten years ago, most lenders no longer require their conveyancing panel lawyer to witness the borrowers signature. It will still be necessary for you to supply identification documents and there are still manifest advantages to instructing a locally based solicitor, in your situation a conveyancing solicitor in Herne Hill.
What does a local search tell me concerning the property I am purchasing in Herne Hill?
Herne Hill conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for example Onsearch The local search plays an important role in most Herne Hill conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your new home. The search will reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
I am purchasing a new build house in Herne Hill with a loan from Halifax. The sellers would not reduce the amount so I negotiated £7000 of extras instead. The sale representative advised me not disclose to my solicitor about this extras as it will impact my mortgage with Halifax. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
What tools are available to locate a Herne Hill solicitor on the Nationwide Building Society conveyancing panel? I have a car and am prepared to travel upto 25kilometers to meet the conveyancer.
You can use the search on this website. Please choose the lender and your location and you will see a number of Herne Hill conveyancing lawyers located nearest you. We have detailed some Herne Hill conveyancing firms at the bottom of this page and you can contact them to check if they are on the Nationwide Building Society approved list