My Conveyancer in Newham is not on the Bank of Ireland Conveyancing Panel. Is it possible for me to use my family solicitor notwithstanding that they are excluded from the Bank of Ireland panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your preferred Newham solicitors but Bank of Ireland will need to use a solicitor on their panel. This will result in additional overall conveyancing fees as well as cause frustration.
- Find a new practitioner to act in the conveyancing, obviously checking they are on the Bank of Ireland panel
Can I be sure that the Newham conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Newham getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the solicitor conducting your conveyancing.
The mortgage over my property is with Leeds Building Society for my property in Newham. Conveyancing has been completed a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Leeds Building Society?
Leeds Building Society must be informed of your intention before letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel solicitor.
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Newham solicitor - who is on the Coventry BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Newham postcode. As you are getting a mortgage with Coventry BS, you could contact them to see if they have a list of approved surveyors in Newham.
I opted to have a survey completed on a house in Newham before retaining solicitors. I have been told that there is a flying freehold element to the house. My surveyor has said that some mortgage companies tend not issue a loan on this type of home.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. If you contact us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Newham. Conveyancing will be smoother if you use a solicitor in Newham especially if they are accustomed to such properties in Newham.
What does commercial conveyancing in Newham cover?
Non domestic conveyancing in Newham covers a wide array of guidance, supplied by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
We're FTB’s - agreed a price, but the property agent informed us that the seller will only issue a contract if we use their preferred lawyers as they want a ‘quick sale’. Our preferred option is to instruct a family solicitor who is accustomed to conveyancing in Newham
We suspect that the owner is unaware of this requirement. If they desire ‘a quick sale', taking such a hostile approach to a serious buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and make the point that (a)you are serious purchasers (b)you are excited to move forward, with finances in place © you do not need to sell (d) you intend to proceed fast (e)but you are going to instruct your own,trusted Newham conveyancing solicitors - not the ones that will provide the negotiator at the agency a kickback or achieve conveyancing thresholds demanded by senior management.
I am employed by a long established estate agent office in Newham where we see a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Newham conveyancing firms. Could you clarify whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a first floor flat in Newham. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the amount due.
An example of a Lease Extension case for a Newham premises is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The unexpired term was 69.77 years.