Our solicitor has uncovered a a legal deficiency with the lease for the flat we are purchasing in Honor Oak. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor says that he must be satisfied that the mortgage company is content with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
We are purchasing a house and the conveyancer has mentioned Chancel Repair for which the property may be liable given it’s proximity to the area of such a church. He has suggested insurance. Is this really warranted for conveyancing in Honor Oak
Unless a prior acquisition of the house took place post 12 October 2013 you may expect conveyancing practitioners handling conveyancing in Honor Oak to continue to propose a a chancel search and or chancel repair liability insurance.
I'm purchasing a new build house in Honor Oak with the aid of help to buy. The sellers would not move on the amount so I negotiated £7000 of extras instead. The estate agent advised me not inform my conveyancer about the extras as it would adversely affect my loan with Virgin Money. Should I keep quiet?.
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.
What tools are available to identify a Honor Oak solicitor on the Accord Mortgages Ltd conveyancing panel? I have wheels and am happy to travel upto 25kilometers to meet the lawyer.
Feel free to make use of the facility on this website. Please select a bank and your location and you will see a number of Honor Oak conveyancing lawyers located nearest you. We have listed some Honor Oak conveyancing firms towards the end of this page and you can telephone them to verify if they are on the Accord Mortgages Ltd member panel
My uncle has suggested that I use his conveyancers in Honor Oak. Do I follow his advice?
Much as we are happy to recommend a Honor Oak conveyancing lawyer it’s preferable to choose a conveyancing practitioner is to seek guidance from friends or relatives who have actually experience in using the firm that you are contemplating using.
If all goes to plan we aim to complete our sale of a £300,000 garden flat in Honor Oak next Tuesday. The management company has quoted £396 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Honor Oak?
Honor Oak conveyancing on leasehold maisonettes usually involves the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to do so. They may invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is above £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality one has no option but to pay whatever is demanded if you want to complete the sale of your home.
I have had difficulty in seeking a lease extension in Honor Oak. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a Honor Oak conveyancing firm who can help.
An example of a Lease Extension decision for a Honor Oak residence is Flat 1 40-42 Ewelme Road in August 2012. the Tribunal assessed the premium for the lease extension in the sum of £11,800 This case related to 1 flat. The unexpired lease term was 61.81 years.