Why would I use a Waltham Forest conveyancing firm when national conveyancers are cheap by comparison?
By all means make sure that you shop around for conveyancing costs in Waltham Forest and you should seek an affordable quote but don’t become consumed with looking for the cheapest Waltham Forest conveyancer. Locating the right conveyancer can mark the difference between a smooth and a distressing move. It is important that you ensure that you have expert advice from an experienced conveyancer. An e-mail can never replace a telephone call and can never replicate a face to face meeting. The firms that we work with will find you a qualified and top rated conveyancing solicitor that will handle your conveyancing from start to finish, providing a level of personalised service that you rarely receive from an online conveyancer. Our lawyers will inform you as to any developments making sure that you are regularly updated. If you ever need to phone the office you will know who to ask for and we'll endeavour to make sure that you are kept fully informed.
Two weeks ago we had a mortgage agreed in principle with Yorkshire BS. Waltham Forest conveyancing practitioners were instructed. What is the average time that one could expect to receive a mortgage offer from Yorkshire BS?
Some lenders take longer than others. Have Yorkshire BS completed the valuation? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
The mortgage over my property is with TSB for my property in Waltham Forest. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform TSB?
Your original mortgage agreement with TSB will provide that you need their approval prior to renting your property as this is likely to be a breach of TSB’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact TSB directly. It should not be necessary to do this via a TSB conveyancing panel firm.
Bank of Ireland have agreed my mortgage in principle, my offer on a house in Waltham Forest has been agreed to, now what?
The property agent will need to be informed of your lawyer's details (make sure the property lawyers are on the bank’s approved list). Telephone Bank of Ireland or your financial adviser and complete any outstanding paperwork. Bank of Ireland will instruct a valuer who will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about ten days to get a mortgage offer. Bank of Ireland will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Waltham Forest.
Will our solicitor be raising enquiries concerning flooding during the conveyancing in Waltham Forest.
The risk of flooding is if increasing concern for lawyers dealing with homes in Waltham Forest. Plenty of people will acquire a house in Waltham Forest, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to offer advice on flood risk, but there are a numerous searches that may be undertaken by the purchaser or on a buyer’s behalf which should figure out the risks in Waltham Forest. The conventional set of property information forms sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to determine whether the premises has suffered from flooding. If flooding has previously occurred which is not revealed by the vendor, then a buyer could commence a claim for damages as a result of such an incorrect reply. A purchaser’s lawyers will also order an environmental search. This should indicate if there is a recorded flood risk. If so, more detailed investigations should be made.
Due to the advice of my in-laws I had a survey completed on a property in Waltham Forest ahead of appointing lawyers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some mortgage companies will refuse to grant a mortgage on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. If you e-mail us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Waltham Forest. Conveyancing may be slightly more expensive based on your lender's requirements.
I've recently bought a leasehold property in Waltham Forest. Do I have any liability for service charges for periods before completion of my purchase?
In a situation 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. However, 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 ensure 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).
Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Waltham Forest. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We can put you in touch with a Waltham Forest conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Waltham Forest residence is 32 Howard Road in June 2012. the Tribunal held that premium payable for the freehold reversion should be £35,825 This case related to 2 flats. The unexpired residue of the current lease was 64 years.
My lawyers in Waltham Forest have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with the bank. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the bank directly.