My wife and I are buying a 2 bedroom apartment in Stamford Hill with a mortgage. We would like to retain our Stamford Hill conveyancer, however the lender advise he's not on their "panel". We have to appoint one of the bank panel solicitors or continue with our Stamford Hill conveyancing practitioner as well as pay for one of their panel firms to represent them. We regard this is unjust; is there anything we can do?
No, not really. The mortgage offered to you 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. A further alternative is for your Stamford Hill conveyancing solicitor to apply to be on the conveyancing panel.
In what way does my ID and proof of funds have anything to do with my conveyancing in Stamford Hill? Is this really necessary?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing business. The Terms of Engagement that you need to sign will no doubt confirm this. Your lender will also require certain documents to be viewed. If you refuse to hand over ID verification documents, your lawyer would not be able to accept instructions from you.
We're in Stamford Hill, First time buyers buying with a mortgage (lender is Bank of Ireland , and our lawyer is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am buying a house and the lawyer has mentioned Chancel Repair to which the house could be obligated to pay as it falls into the area of such a church. She has suggested insurance. Is this strictly warranted for conveyancing in Stamford Hill
Unless a prior acquisition of the property took place after 12 October 2013 you could assume that lawyers handling conveyancing in Stamford Hill to remain recommending a chancel search and or insurance against a claim.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one close by in Stamford Hill I like with amenity areas and transport links nearby, however it only has 61 years on the lease. I can't really find anything else in Stamford Hill for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £175,000 apartment in Stamford Hill next week. The freeholder has quoted £408 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Stamford Hill?
Stamford Hill conveyancing on leasehold apartments typically necessitates fees being invoiced by management companies :
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Answering pre-contract questions
Where consent is required before sale in Stamford Hill
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Stamford Hill. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Stamford Hill conveyancing firm who can help.
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 affected 1 flat. The unexpired term as at the valuation date was 59 years.