My husband and I are hoping to buy a flat in Stamford Hill and are in fact using a Stamford Hill conveyancing practice. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Yorkshire Building Society have this morning contacted us to inform me that they have now hit a problem as our Stamford Hill solicitor is not on their conveyancing panel. What do we do from here?
Where you are buying a property requiring a mortgage it is conventional for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Stamford Hill lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
My partner and I are buying a newly constructed duplex in Stamford Hill and my conveyancer is informing me that she is duty bound to the bank to reveal incentives from the builder. The Estate Agents are hassling me to exchange and I don't want to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
In what way does my ID and proof of funds have anything to do with my conveyancing in Stamford Hill? Is this really warranted?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the ID of the potential client they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms and Conditions that you need to sign will no doubt stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you refuse to supply identification documents, your lawyer would not be able to accept instructions from you.
About to place an offer on a leasehold apartment in Stamford Hill. The selling agents assure me that it is normal for flats in Stamford Hill to have less than 75 years unexpired on the lease. I am getting a mortgage with Platform. Will the property be mortgageable given that the lease has 69 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 2/9/2025 the requirements read as follows :
Is it simple use your search tool to find a conveyancing practitioner in Stamford Hill on the approved list for my mortgage?
1st select a lender such as Barclays , Skipton Building Society or Aldermore then type in your location e.g. Stamford Hill. Conveyancing organisations in Stamford Hill and further afield will then be shown.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Stamford Hill. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Stamford Hill ?
The majority of houses in Stamford Hill are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Stamford Hill so you should seriously consider looking for a Stamford Hill conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor will appraise you on the various issues.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Stamford Hill conveyancing firm to act on my behalf?
Where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to determine the sum to be paid.
An example of a Lease Extension decision for a Stamford Hill premises is Flat 25, Stamford Hill Mansions Stamford Hill in April 2010. The Tribunal therefore determined that the premium to be paid by the lessee to the freeholder for the extension of the lease should be £28,984.00 This case related to 1 flat. The unexpired lease term was 59 years.