My wife and I are purchasing a 1 bedroom apartment in South Hackney with a mortgage. We wish to retain our South Hackney solicitor, but the mortgage company says he's not on their "panel". We have to appoint one of the lender panel firms or retain our South Hackney lawyer and pay for one of their panel ones to represent them. This feels very unfair; can we not demand that the lender use our South Hackney solicitor ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: 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. Another option that might be available is for your South Hackney conveyancing lawyer to apply to be on the conveyancing panel.
Do I need to take out insurance to cover chancel repairs when buying a house in South Hackney?
Unless a prior purchase of the property took place post 12 October 2013 you can expect lawyers carrying out conveyancing in South Hackney to remain recommending a chancel search and or chancel repair liability insurance.
I am purchasing a new build house in South Hackney with a loan from Barnsley Building Society. The builders would not move on the amount so I negotiated £7000 of additionals instead. The sale representative suggested that I not disclose to my conveyancer about this extras as it may put at risk my mortgage with Barnsley Building Society. Is this normal?.
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.
I decided to have a survey carried out on a house in South Hackney before appointing lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies will not issue a loan on a flying freehold home.
It varies from the lender to lender. HSBC has different requirements from Halifax. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in South Hackney. Conveyancing may be slightly more expensive based on your lender's requirements.
Can you offer any advice when it comes to appointing a South Hackney conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a South Hackney conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non South Hackney conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:
-
How experienced is the firm with lease extension legislation?
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a South Hackney conveyancing firm to act on my behalf?
in cases where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price.
An example of a Freehold Enfranchisement decision for a South Hackney property is 150 Amhurst Road in December 2013. The tribunal concluded that the premium to be paid by the applicant for the enfranchisement of the subject property was £43,500. This case related to 4 flats. The number of years remaining on the existing lease(s) was 90 (or thereabouts).
The mortgage agreement from a lender for the refinancing of my 2 bedroom apartment is coming imminently. Could you suggest an efficient remortgage conveyancing practitioner in South Hackney ?
You are on the wrong site if you are in need of a cheap conveyancing solicitors in South Hackney. Our intention is to offer excellent value conveyancing but we do not aim to advertise as being the cheapest. Resist the temptation to appoint brokers offering £99 conveyancing in South Hackney.At best, in going for cheap conveyancing, you will end up with what you pay for and at worst you will end up invoiced for additional fee and still not get the service you were looking for.