I'm in the process of changing my current homeowner loan to a BTL Platform Home Loans Ltd mortgage. The bank has said that I require a conveyancer for this. I had a chat my past West Ham conveyancing solicitor who dealt with the legals when I initially purchased the property. The fee estimate they've given of £470 is surprising as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The costs illustration is fractionally on the steep side. If you shop around you may be able to reduce the fees marginally by perhaps a hundred pounds. On the other hand, assuming were pleased with the conveyancing the firm provided you maycome to rue choosing an an untested solicitor. Don't forget to check that the conveyancer can represent Platform Home Loans Ltd. Do utilise our search tool to find a West Ham conveyancing firm on the Platform Home Loans Ltd conveyancing panel, which can often include conveyancing solicitors in West Ham.
I am acquiring a brand new duplex in West Ham and my solicitor is informing me that she has to the mortgage company to disclose incentives from the developer. I am nearing the developer’s deadline to exchange contracts and I would rather not delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What does a local search reveal regarding the property my wife and I buying in West Ham?
West Ham conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Onsearch The local search plays an important role in most West Ham conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
I have been on the look out for a leasehold apartment up to £305k and found one round the corner in West Ham I like with a park and station nearby, however it only has 49 remaining years left on the lease. There is not much else in West Ham suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
I am on look out for some leasehold conveyancing in West Ham. Before I get started I would like to find out the remaining lease term.
If the lease is registered - and most are in West Ham - 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 first floor flat in West Ham. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to decide the sum to be paid.
An example of a Lease Extension case for a West Ham property is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The number of years remaining on the existing lease(s) was 69.77 years.
How and when do I pay the Stamp Duty Land Tax chargeable for my house transaction in West Ham?
The conveyancer will complete a stamp duty return for you as part of your West Ham conveyancing transaction for signature. After completion your property lawyer will submit your STL application to the Inland Revenue and - assuming they have the money - discharge any land tax payable for you.