My husband and I are planning to buy a 2 bedroom flat in Yiewsley with a mortgage. We like our Yiewsley conveyancer, however the bank advise she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our Yiewsley property lawyer as well as pay for one of their panel lawyers to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Yiewsley conveyancing solicitor to apply to be on the conveyancing panel.
I am acquiring a house mortgage free in Yiewsley. I have resided for the last twelve years in Yiewsley. Conveyancing searches are a lot of money. As I know the area and road very well must I have all the conveyancing searches?
Provided that you do not need a home loan, then almost all of the Yiewsley conveyancing searches are non-obligatory. Your conveyancer will ’encourage you, perhaps strongly, that you should have searches carried out, but she is duty bound to take that path of encouragement . Do take into account; if you are intend to sell the house one day, it could be of interest to your future purchaser what the searches disclose. Sometimes houses with functional issues can still show up unexpected search results. A good conveyancing solicitor in Yiewsley should be able to give you some helpful guidance in this regard.
My colleague advised me that where I am purchasing in Yiewsley I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Yiewsley conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Yiewsley around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Yiewsley Education with maps and statistics, Local Amenities and other useful information regarding Yiewsley.
I am buying my first flat in Yiewsley benefiting from help to buy. The developers would not budge the price so I negotiated £7000 of extras instead. The property agent told me not reveal to my solicitor about the deal as it will put at risk my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a flat up to £195,000 and found one close by in Yiewsley I like with amenity areas and station nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Yiewsley for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
My partner and I may need to rent out our Yiewsley basement flat for a while due to a career opportunity. We used a Yiewsley conveyancing practice in 2003 but they have since shut and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Yiewsley do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Yiewsley conveyancing firm to help?
if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to determine the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Yiewsley flat is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case affected 2 flats. The unexpired term as at the valuation date was 69 years.