My partner and I are getting closer to an exchange on a property in South Tottenham and my mum and dad have transferred the ten percent deposit to my solicitor. I am now informed that as the deposit has not arrived from me my conveyancing practitioner needs to disclose this to my lender. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The solicitor is duty bound to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Our bank has recommended solicitors on their panel based in South Tottenham but I would rather use a conveyancing lawyer in South Tottenham or nearer to where I live. Can you help?
The minority of South Tottenham conveyancing solicitors are on all banks conveyancing panel. Please make use of our search tool to choose a South Tottenham conveyancing firm on the on the bank panel.
How does conveyancing in South Tottenham differ for newly converted properties?
Most buyers of new build property in South Tottenham come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in South Tottenham typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in South Tottenham or who has acted in the same development.
Should I be concerned by 3rd parties that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a local South Tottenham conveyancing company?
As with many professional services, often referrals from family and friends can be very helpful. But there are many parties with a keen interest in a conveyancing matter; estate agents, mortgage brokers and mortgage companies might all recommend conveyancers to appoint. On occasion the lawyers might be known to one of the organisations as being good in their field, but occasionally there may be a financial incentive behind the endorsement. You are at liberty to appoint your own lawyer. Don't forget that most lenders operate an approved list of law firms you are obliged to use for the mortgage related work in your conveyancing.
My cousin has recommend that I appoint his conveyancing solicitors in South Tottenham. Should I choose my own solicitor?
No doubt the best way to choose a conveyancing lawyer is to have guidance from friends or family who have experience in using the firm you're contemplating using.
My wife and I may need to rent out our South Tottenham 1st floor flat temporarily due to a new job. We used a South Tottenham conveyancing practice in 2002 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?
A small minority of properties in South Tottenham do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I am the proprietor of a a ground floor purpose built flat in South Tottenham. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
Where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to judgment on the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a South Tottenham flat 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 was in relation to 2 flats. The number of years remaining on the existing lease(s) was 74.13 years.