Much to our surprise we have been informed by our IFA that my Homerton property lawyer is not on the lender Solicitor panel. What can I do to be certain whether this is indeed the case?
Your first step should be to call your Homerton conveyancer. You lawyer should advise you what has happened. If they are not on the panel they may be able to suggest a Homerton conveyancing practice that is on the conveyancing panel for your mortgage company.
Our Homerton lawyer has discovered a discrepancy between the surveyor’s assumptions in the home valuation survey and what is revealed within the conveyancing documents. My solicitor has advised that he is duty bound to check that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s course or action right?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Is there a reason why leasehold purchase conveyancing in Homerton is more expensive?
In short, leasehold conveyancing in Homerton and London usually necessitates additional work compared to freehold conveyancing. This includes reviewing the lease, communicating with the landlord about serving applicable notices, obtaining current service charge and management information, obtaining the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first entered into.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Homerton. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Nationwide, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Nationwide will require that you use a conveyancer on the Nationwide conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nationwide conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nationwide mortgage is registered as a charge at the Land Registry.
I have todaybeen informed that Action Conveyancing have been shut down. They conducted my conveyancing in Homerton for a purchase of a freehold house 18 months ago. How can I be sure that the property is in my name in the name of the former proprietor?
The quickest way to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Homerton conveyancing specialists.
Having spent months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Homerton. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We can put you in touch with a Homerton conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Homerton residence is 104 Nightingale Road in May 2009. The Tribunal's Decision is that the premium torbe paid for the enfranchisement in this case is £112,174 This case affected 10 flats. The number of years remaining on the existing lease(s) was 71.25 years.
When it comes to leasehold conveyancing in Homerton what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Homerton. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
-
Maintenance charge proportions which don’t add up to the correct percentage A provision to repair to or maintain parts of the building
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Virgin Money, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.