Do all mortgage companies provide you with an approved list of South Tottenham conveyancing solicitors? How do you know who is on the Coventry BS conveyancing panel?
South Tottenham conveyancing firms themselves provide us confirmation that they are on the Coventry BS conveyancing panel as opposed to being supplied with a list from Coventry BS directly.
Does a directory service exist listing Aldermore panel solicitors in South Tottenham on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. A small selection of lenders make their panel listings visible on the web. If you are looking for a South Tottenham solicitor on the Aldermore please use our facility.
I currently have a mortgage with TSB for my property in South Tottenham. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform TSB?
You must advise TSB prior to renting your property as this is likely to be a breach of TSB’s mortgage conditions. It may be that TSB will allow you to rent 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 TSB directly. You need not do this via a TSB conveyancing panel lawyer.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my South Tottenham bank branch on various occasions and was told they are content with the situation and they will lend. My South Tottenham conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your property lawyer has to follow the CML Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am buying a new build house in South Tottenham benefiting from help to buy. The sellers would not move on the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not disclose to my conveyancer about this side-deal as it would jeopardize my mortgage with the bank. 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 am looking for a ground for flat up to £305k and found one near me in South Tottenham I like with a park and railway links in the vicinity, the downside is that it's only got 52 years on the lease. There is not much else in South Tottenham in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage the shortness of the lease will be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
Back In 2004, I bought a leasehold house in South Tottenham. Conveyancing and Platform Home Loans Ltd mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in South Tottenham who acted for me is not around. What should I do?
First contact HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a South Tottenham conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
My wife and I have hit a brick wall in trying to purchase the freehold in South Tottenham. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to calculate the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a South Tottenham residence is 22 Wakefield Road in January 2012. Following a vesting order Clerkenwell and Shoreditch County Court under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993 on 9th May 2011 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £17,400 This case related to 2 flats. The number of years remaining on the existing lease(s) was 74.13 years.
What type of premises does your South Tottenham conveyancing estimates relate to?
The quotes issued are only relevant to standard domestic homes in England & Wales. If you have any different requirements for instance industrial or agricultural property or commercial conveyancing in South Tottenham please telephone us to discuss this further .