The Waltham Abbey conveyancing firm that just started acting on my house acquisition in Waltham Abbey have suddenly closed. They were on acting for me because I had to have a solicitor on the Bank of Ireland conveyancing panel and my preferred Waltham Abbey lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
This question may be naive but I am unseasoned as FTB of a two bedroom flat in Waltham Abbey. Do I collect the keys to the premises on completion from my conveyancer? If so, I will use a local conveyancing solicitor in Waltham Abbey?
On the day of completion you do not need to go to the conveyancers office in Waltham Abbey. Your solicitors will arrange to send the completion advance to the seller's solicitors, and shortly after the monies have arrived, you will be invited to pick up the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
My solicitor has informed me that lack of building regulations insurance is required on my purchase. What is the level of cover for Waltham Abbey conveyancing?
The right level of lack of building regulations indemnity insurance depends on who your lender is. It would differ for example between Santander and Chelsea Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
Planning on purchasing a maisonette in Waltham Abbey. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Waltham Abbey property lawyer is on the Principality conveyancing panel.
I am purchasing a new build house in Waltham Abbey with a loan from The Royal Bank of Scotland. The sellers would not budge the price so I negotiated 6k of extras instead. The house builders rep advised me not reveal to my conveyancer about the deal as it may jeopardize my mortgage with The Royal Bank of Scotland. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the guidance of my in-laws I had a survey completed on a house in Waltham Abbey in advance of retaining solicitors. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some lenders may not issue a loan on this type of premises.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Waltham Abbey. Conveyancing will be smoother if you use a solicitor in Waltham Abbey especially if they are acquainted with such properties in Waltham Abbey.
I need to find a conveyancing solicitor for residential conveyancing in Waltham Abbey. I have land on a web site which appears to be the perfect offering If there is a chance to get all formalities done via email that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Last February I purchased a leasehold flat in Waltham Abbey. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Waltham Abbey conveyancing firm to help?
if there is a missing landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to determine the price.
An example of a Freehold Enfranchisement case for a Waltham Abbey property is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case was in relation to 2 flats. The unexpired residue of the current lease was 69.26 years.