Am I correct in assuming that the fact that my solicitor in Tottenham is not identified on my bank's solicitor panel that there is a problem with the standard of his conveyancing?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Tottenham conveyancing firm and ask them why they are no longer on the approved list for your bank.
Our lawyer has identified a a problem with the lease for the apartment we are purchasing in Tottenham. The other side have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that he must check that the mortgage company is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the lender are the client. The appropriate lender provisions have to be complied with.
Me and my partner are buying a property in Tottenham. It might be a silly question but how we can trust a lawyer? On completion day we will need to deposit funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My wife and I purchasing a terrace house in Tottenham. The intention is to convert the garage to a playroom at the property.Will the conveyancing process include investigations to ascertain if these alterations were previously refused?
Your property lawyer should review the deeds as conveyancing in Tottenham will on occasion identify restrictions in the title deeds which restrict certain changes or necessitated the permission of another owner. Certain extensions need local authority planning permissions and approval in accordance building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
I am selling my flat. I had a double glazing fitted in December 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Kent Reliance are being difficult. The Tottenham solicitor who is on the Kent Reliance conveyancing panel is recommending indemnity insurance as a solution but Kent Reliance are requiring a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance 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.
The deeds to my home can not be found. The solicitors who did the conveyancing in Tottenham 5 years ago are no longer around. What are my options?
These day there are copies made of almost everything, and your conveyancer should be aware exactly where to locate all the suitable documentation so you may buy or dispose of your house without any difficulty. Where copies are not available, your solicitor may be able to put in place insurance or indemnities against possible claims on the property.
I am looking for a leasehold apartment up to £235,500 and found one round the corner in Tottenham I like with open areas and railway links in the vicinity, however it's only got 51 years unexpired on the lease. I can't really find anything else in Tottenham in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan that many years may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
We are midway through buying a house in Tottenham. Conveyancing lawyer has phoned to say the title is "Leasehold". Should this adversely affect our HSBC valuation?
Tottenham conveyancing does not normally involve leasehold houses. The main factor here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's virtually freehold, so it shouldn't impact the saleability significantly.
On the flip side, if it's, say, Sixty years it will have a significant effect on the value, and most likely wouldn't be acceptable to the bank. The remaining lease term and ground rent will be stated in the lease to be supplied to your solicitor.