My wife and I are acquiring a newly built flat in Langley and my solicitor is telling me that she has to the mortgage company to reveal incentives from the developer. I am nearing the developer’s deadline to exchange contracts and I would rather not prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I know that there are debates on Chancel Insurance on online forums. Do I need this when buying a residence in Langley? or Apparently there is an ancient law that means some owners of property living in a parish church boundary will be compelled to pay for maintenance to the chancel within the church. Is this applicable for conveyancing in Langley?
Unless a prior acquisition of the house took place after 12 October 2013 you can expect conveyancing practitioners carrying out conveyancing in Langley to remain encouraging a chancel search and or insurance against a claim.
I decided to have a survey carried out on a house in Langley prior to retaining lawyers. I have been advised that there is a flying freehold element to the house. My surveyor advised that some banks will refuse to issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. HSBC has different requirements for example to Nationwide. If you call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Langley. Conveyancing may be slightly more expensive based on your lender's requirements.
Are there any apps to help identify a Langley law firm on the Bank of Scotland conveyancing panel? I am a keen cyclist and am happy to travel upto 10miles to meet the conveyancer.
You can use the tool on this page. Please choose the mortgage company and your location and you will see a number of Langley conveyancing lawyers located nearest you. We have listed some Langley conveyancing firms towards the end of this page and you can contact them to see whether they are on the Bank of Scotland member panel
Last April I purchased a leasehold house in Langley. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
We have reached the end of our tether in trying to reach an agreement for a lease extension in Langley. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to calculate the price payable.
An example of a Freehold Enfranchisement case for a Langley 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 related to 2 flats. The unexpired lease term was 69 years.
Our lenders have just issued us with a mortgage offer. We have retained a local conveyancer in Langley last week. A couple of hours ago, our broker phoned to advise us that the bank said that we cannot use our solicitor as they aren't on their panel. As novices, we did not have a clue that the bank had a say Is this legal?
You are at liberty to instruct any property lawyer you wish to select for your conveyancing in Langley but if they are not on the your bank's approved list you must incur additional cost so the mortgage company can appoint their own solicitors as well to protect their interest. sometimes it is possible your solicitor may apply to get included on to the mortgage company list of approved firms. Do make the most of internet search facilities such as lenderpanel.com to find a conveyancing solcitor in Langley on the lender panel. You can go into your high street bank branch in Langley. They will know some good conveyancing solicitors in Langley on the approved list.