I have paid off my mortgage with TSB. I assume I don't need a Leytonstone solicitor on the TSB panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I recently had an offer accepted on an apartment in Leytonstone. My financial adviser pressured me to appoint their conveyancing practitioner. I paid an advanced payment of £150. A couple of days later, the solicitor contacted me to say that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
At last I have had an offer on a flat in Leytonstone agreed to, but there is a chain. The sellers have put an offer on a flat, but it’s not been accepted yet, and are looking at other flats booked. I have selected a bricks and mortar conveyancing solicitor in Leytonstone. What do I do now? When do I get the mortgage application with Bank of Ireland going?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of one thousand pounds, then valuation, Leytonstone conveyancing search costs, etc). First, you must check that your lawyer is on the Bank of Ireland conveyancing panel. 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 buoyant market some home buyers would apply for the mortgage with Bank of Ireland and pay for the valuation and only if it comes back ok would they pay their lawyer to proceed with searches.
Various web forums that I have visited warn that are the number one reason for hinderance in Leytonstone house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in Leytonstone.
It has been three months following my purchase conveyancing in Leytonstone concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying my first flat in Leytonstone with a mortgage from Godiva Mortgages Ltd. The builders would not move on the amount so I negotiated £7000 of extras instead. The sale representative advised me not inform my lawyer about the extras as it would adversely affect my mortgage with the lender. Is this normal?.
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.
I have just appointed agents to market my garden apartment in Leytonstone. Conveyancing is yet to be initiated, but I have just had a yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as usual as all rents and service charges will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Leytonstone conveyancing firm to act on my behalf?
in cases where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to judgment on the price.
An example of a Freehold Enfranchisement decision for a Leytonstone residence is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case was in relation to 2 flats. The unexpired term was 73.92 years.
My fiance and I are purchasing a four bedroom flatin Leytonstone with a home loan from a bank. We wish to instruct our lawyer in Leytonstone however our mortgage company says he's not listed on their "panel". We have to appoint from the our mortgage company panel firms or keep our Leytonstone solicitor and incur the extra fees for one of their panel ones to represent our lender. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The bank home loan offered to you is subject to conditions, one of which will be that solicitors will on the bank's conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels, including many conveyancing solicitors in Leytonstone : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for your mortgage company.