We wanted to use a property lawyer in Walthamstow for our home move. Our broker informed us that our bank Yorkshire Building Society won't deal with them. Surely this is unduly restrictive?
Mortgage Companies tend to imposes restrictions either the category or the volume of conveyancing firms on their approved list of lawyers. A common example of such restriction(s) being that a firm must not be a sole practitioner. In addition to restricting the profile of firm, some have decided to limit the number of firms they use to represent them. Be aware that Yorkshire Building Society have no responsibility for the quality of advice provided by any member of Yorkshire Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels a few years ago even though there are differing views concerning the level of solicitor engagement in some of that fraud. Figures from the Land Registry indicate that plenty of law firms, including some in or near Walthamstow only execute a couple conveyances a year.
We are purchasing a detached bungalow in Walthamstow. We would like to carry out an extension to the side at the property.Will the conveyancing process include checks to determine if these works are permitted?
Your solicitor will check the registered title as conveyancing in Walthamstow can occasionally reveal restrictions in the title deeds which restrict categories of changes or necessitated the permission of another owner. Many additions require local authority planning permissions and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
is it true that all Walthamstow solicitor practices on the Santander conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Santander conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Some banks do allow licenced conveyancers on their panel and in such a situation the practice would be governed by the CLC.
We have agreed to purchase a house in Walthamstow. A rare aspect is that the roof has a solar panel. Lloyds have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Lloyds your lawyer must follow the formal instructions set out in Part two of UK Finance Lenders’ Handbook for Lloyds. The CML Handbook sets out minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Lloyds where a lease fails to comply with these requirements. The provisions relate to the installation of panels on properties in England and Wales and is not limited to Walthamstow.
Will our solicitor be raising enquiries about flooding during the conveyancing in Walthamstow.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Walthamstow. There are those who purchase a house in Walthamstow, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, however there are a number of checks that may be carried out by the purchaser or by their solicitors which will give them a better understanding of the risks in Walthamstow. The standard information given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to determine if the premises has ever been flooded. If the premises has been flooded in past and is not revealed by the owner, then a purchaser may commence a claim for damages resulting from an incorrect response. A purchaser’s lawyers should also conduct an enviro report. This should indicate whether there is a recorded flood risk. If so, further inquiries should be initiated.
My wife and I purchased a semi-detached Victorian house in Walthamstow. Conveyancing lawyer represented me and Platform Home Loans Ltd. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold with the matching property. Is it worth asking Platform Home Loans Ltd to clarify?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Walthamstow and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with the conveyancing practitioner who conducted the purchase.
I am on look out for some leasehold conveyancing in Walthamstow. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Walthamstow - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the leaseholder of a ground flat in Walthamstow. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
Most definitely. We are happy to put you in touch with a Walthamstow conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Walthamstow property is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case affected 2 flats. The unexpired lease term was 72.02 years.
My husband and I have agreed a price on a Walthamstow flat we inherited some years ago in 2010. I have over ten years conveyancing know-how and, although retired, wish to carry out my own legal work. The buyer's property lawyer has informed me that their mortgage company will not allow you to do your own conveyancing mandating that the funds to be sent to a solicitor's bank account.
Lending requirements to lawyers from all CML members state that If the vendor does not have legal representation the purchaser’s lawyers should check whether the mortgage company needs to be notified so that a decision can be reached if they are willing to progress.