The West Hampstead conveyancing firm handling our West Hampstead conveyancing has spotted a difference when comparing the assumptions in the valuation report and what is in the conveyancing documents. My solicitor informs me that he must check that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action appropriate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Do the Building Society Association intend to launch a searchable register to to identify practices on the Coventry BS conveyancing panel for example in West Hampstead?
We would not expect to be advised of any plans on the part of the BSA to develop such a register.
My solicitor has informed me that lack of planning permission insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in West Hampstead?
The right level of lack of planning permission indemnity insurance should be dictated by who your lender. It would differ for example between Lloyds TSB Bank and Skipton Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
I currently have a mortgage with Clydesdale for my property in West Hampstead. Conveyancing was finalised months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
Clydesdale must be informed of your intention prior to renting your property as this is likely to be a breach of Clydesdale’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 Clydesdale directly. You need not do this via a Clydesdale conveyancing panel solicitor.
Our offer on a detached house in West Hampstead has been accepted, the vendors do however have a dependent purchase. The owners have put an offer on somewhere, but it’s not yet agreed to, and are looking at other apartments booked. I have chosen a bricks and mortar conveyancing solicitor in West Hampstead. What do I do now? At what point should I apply for the mortgage with Bank of Ireland?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then survey, West Hampstead conveyancing search costs, etc). First, you must check that your property lawyer is on the Bank of Ireland approved list. As to the next steps this very much depends on the uniqueness of your case, desire for the property and on the state of the market. During a rising market the majority of purchasers would apply for the mortgage with Bank of Ireland and arrange for the valuation and only if it comes back ok would they ask their property lawyer to press on with searches.
I appreciate that there are debates on Chancel Insurance on online forums. Do I require this when buying a house in West Hampstead? or I am told that there is a law dating back centuries that could mean that homeowners residing in a parish church boundary may be liable to contribute towards maintenance to the chancel in proximity to the church. Is this applicable for conveyancing in West Hampstead?
Unless a previous acquisition of the premises completed after 12 October 2013 you can assume that solicitors delivering conveyancing in West Hampstead to continue to propose a a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly picked up during conveyancing in West Hampstead?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in West Hampstead. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I've recently bought a leasehold house in West Hampstead. Do I have any liability for service charges relating to a period prior to 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. A critical element 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).
After years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in West Hampstead. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to assess the amount due.
An example of a Lease Extension case for a West Hampstead flat is Flat A 372 Cricklewood Lane in January 2013. The Tribunal decided that the premium for the extended lease should be £5,750.00 and that the terms of the new lease should be those set out in annex to the decsion This case was in relation to 1 flat.