We expect to receive a AIP from HSBC this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do HSBC recommend any Southend solicitors on the HSBC conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Southend solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
It is not clear whether my mortgage offer requires a lease extension. I have called my Southend bank branch on a couple of occasions and was told it does not affect the mortgage offer and they will lend. My Southend conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
As long as the lawyer is on the mortgage company approved list, she or he must follow the Council of Mortgage Lenders’ Handbook conditions for the bank. 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am selling my flat. I had a double glazing fitted in October 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nationwide are being problematic. The Southend solicitor who is on the Nationwide conveyancing panel is recommending indemnity insurance as a solution but Nationwide are requiring a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Are there restrictive covenants that are commonly identified as part of conveyancing in Southend?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Southend. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying my first flat in Southend with a loan from TSB. The developers would not budge the price so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not inform my conveyancer about this deal as it would jeopardize my mortgage with TSB. 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.
How easy is it to use the search tool to select a conveyancing solicitor in Southend on the panel for my mortgage?
Step one is to pick a bank such as Lloyds TSB Bank, Norwich and Peterborough Building Society or Nottingham Building Society then type in your preferred area e.g. Southend. Conveyancing organisations in Southend and further afield will then be shown.
My step-father has urged me to use his conveyancing solicitors in Southend. Should I use them?
No doubt the best way to choose a conveyancing lawyer is to seek guidance from friends or family who have actually experience in using the firm that you are considering.
My partner and I may need to rent out our Southend garden flat temporarily due to a new job. We used a Southend conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your last Southend conveyancing solicitor is not around you can check your lease to check if it allows you to sublet the premises. The accepted inference is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain permission via your landlord or other appropriate person before subletting. The net result is you not allowed to sublet without first obtaining permission. Such consent should not be unreasonably withheld. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
I own a ground floor flat in Southend. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
Most certainly. We can put you in touch with a Southend conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Southend residence is 75 Woolstone Road in February 2012. the decision of the Tribunal was that the appropriate amount to be paid to purchase the freehold was the sum of £17,711 . This case affected 2 flats. The unexpired term as at the valuation date was 68.28 and 158.