I am selling my home in Hounslow. Does my conveyancer need to be on the Principality conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Principality conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
I had a mortgage agreed in principle with Bank of Ireland. Hounslow conveyancing practitioners have been appointed. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
Some lenders take longer than others. Have Bank of Ireland done the valuation? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am selling my flat. I had a double glazing fitted in October 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Skipton are being problematic. The Hounslow solicitor who is on the Skipton conveyancing panel is recommending indemnity insurance as a solution but Skipton are requiring a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
After what feels like an age I have had an offer on an apartment in Hounslow agreed to, the owners do nevertheless have an associated purchase. The owners have placed an offer on a flat, however it’s not been accepted yet, and are looking at other flats in the pipeline. I have chosen a high street conveyancing solicitor in Hounslow. What do I do now? At what stage should I apply for the mortgage with Leeds Building Society?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then survey, Hounslow conveyancing search fees, etc). The first course of action is to ensure that your lawyer is on the Leeds Building Society approved list. As to the subsequent phase this very much depends on the uniqueness of your transaction, attraction to this property and on the state of the market. In a rising market the majority of home buyers will apply for the mortgage with Leeds Building Society and arrange for the valuation and only if it comes back ok would they pay their property lawyer to move forward with the conveyancing in Hounslow.
What can a local search reveal concerning the property we're buying in Hounslow?
Hounslow conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search company such as PSG The local search plays a central part in many a Hounslow conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your property. The search should supply 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 13 topic areas.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a quick, chain free conveyancing. Hounslow is where the house is located. Can you shed any light on this issue?
Flying freeholds in Hounslow are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hounslow you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hounslow may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My father has encouraged me to use his conveyancers in Hounslow. Do I follow his recommendation?
Much as we are happy to recommend a Hounslow conveyancing lawyer it’s preferable to select a conveyancing lawyer is to get referrals from friends or family who have previously instructed the solicitor you're are thinking of instructing.
I am tempted by the attractive purchase price for a two flats in Hounslow which have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Hounslow is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most buyers and mortgage companies, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 Hounslow 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.
After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Hounslow. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We can put you in touch with a Hounslow conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hounslow residence is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case related to 1 flat. The remaining number of years on the lease was 60.45 years.