Me and my partner are buying a ground floor flat in Wanstead. My lawyer has never been on on the mortgage company approved panel. Am I still permitted to retain my Wanstead conveyancing solicitor even though they are excluded from the lender approved list?
Various options include
- Proceed with your chosen Wanstead conveyancer but your lender will undoubtedly instruct a conveyancer from their conveyancing panel. This will result in additional cost and potential delay.
- Get a fresh conveyancer to conduct the conveyancing, making sure they are on the lender conveyancing panel.
- Convince your property lawyer to do everything within their powers to join the bank’s panel of solicitors
Due to move into my new home in Wanstead next Thursday. My solicitor now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These obligations are not unique to conveyancing in Wanstead.
A colleague informed me that in purchasing a property in Wanstead there could be various restrictions affecting the ability to carry out external alterations to the property. Is this right?
We are aware of anumerous of properties in Wanstead which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Wanstead should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are purchasing a victorian detached house in Wanstead. We would like to carry out a loft conversion at the property.Will legal work on the property involve enquiries to see if these alterations are allowed?
Your conveyancer will check the registered title as conveyancing in Wanstead will occasionally identify restrictions in the title documents which prevent certain works or necessitated the permission of another owner. Some extensions need local authority planning permissions and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be wise to check these issues with a surveyor prior to committing yourself to a purchase.
Are all Wanstead Conveyancing Quality Solicitors on the Lloyds conveyancing panel?
A selection of banks and building societies now make use of CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
I acquired my house on 2 February and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in Wanstead advises it will be dealt with inside ten days. Are transfers in Wanstead particularly slow to register?
There is nothing unique about conveyancing in Wanstead registration formalities. Rather than based on location, timeframes can differ depending on who lodges the application, whether there are errors and whether the Land registry communicate with any other parties. Currently in the region of three quarters of such applications are completed within 12 days but occasionally there can be extensive hold-ups. Historically registration is effected once the buyer has moved in to the premises therefore an expedited registration is not usually an essential issue but where there is a degree of urgency associated with the registration then you or your conveyancer could communicate with the Registry to express the reasoning for the application to be prioritised.
I opted to have a survey carried out on a property in Wanstead ahead of retaining solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some banks tend not issue a loan on this type of property.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. Should you wish to call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Wanstead. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wanstead to see if the conveyancing costs will increase in light of this.
I own a leasehold flat in Wanstead. Conveyancing and Nottingham Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Wanstead who previously acted has long since retired. Do I pay?
First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Wanstead conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Wanstead conveyancing firm to help?
Where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to arrive at the amount due.
An example of a Freehold Enfranchisement case for a Wanstead premises is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case was in relation to 2 flats. The number of years remaining on the existing lease(s) was 73.92 years.