My partner and I are approaching an exchange on a flat in Cockfosters and my mum and dad have sent the ten percent deposit to my conveyancer. I am now informed that as the deposit has not arrived from me my solicitor needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
The conveyancing practitioner is legally required to clarify with mortgage company to make sure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
I currently have a mortgage with Co-operative for my property in Cockfosters. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Co-operative?
Your original mortgage agreement with Co-operative will provide that you need their approval prior to letting out your property as this is likely to be a breach of Co-operative’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 Co-operative directly. You need not do this via a Co-operative conveyancing panel firm.
Completion of my remortgage has taken place for my property in Cockfosters. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I can not work out if my lender requires a lease extension. I have called my Cockfosters building society branch on a couple of occasions and was told it wasn't an issue and they will lend. My Cockfosters conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend in accordance with their published requirements. Who do I believe?
Your conveyancing practitioner has to comply with the CML Handbook section two provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I'm refinancing my existing property to a buy to let loan with Yorkshire Building Society and intend to use the remaining equity as a deposit on further property. The location we are talking about is Cockfosters. Will your conveyancers be able to act for both sets of mortgage companies and link together the conveyances?
Make use of our comparison tool on this site to ensure that the solicitors are approved by both lenders. Having checked that they are the conveyancer should be able to tie up the two transactions but you should talk with you solicitor and communicate your desired outcome and requirements.
There are only Fifty years unexpired on my lease in Cockfosters. I need to extend my lease but my landlord is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the lessor. In some cases an enquiry agent would be useful to carry out a search and to produce an expert document to be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court covering Cockfosters.
Having spent years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Cockfosters. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We can put you in touch with a Cockfosters conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Cockfosters premises is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The unexpired term was 70.31 years.
Me and my husband have recently had an offer agreed on a house and had meeting on Friday with Nationwide for the mortgage. They have informed us that when it comes to selecting a solicitor that unless they are on their approved panel of property lawyers then we will have to pay out an additional charge of £200. This is because they will then have to select a conveyancer to act for them in addition to the one we select on our behalf and we are liable for their fees. I have asked Nationwide to supply me with a list so I can request estimates only from their approved conveyancers but was told that I need to check with each individual conveyancer to see if they are on the panel. Is there a simple way of finding out who is on a lender panel?
Ask Nationwide what their panel criteria is for a solicitor.Thereafter ask the lawyer of your choice whether they fit that criteria and have they acted on loans for Nationwide before. If the answer to those is yes, then just double check with Nationwide. Another option is to utilise our search tool and we should be able to identify a property lawyer in Cockfosters on the approved list for Nationwide.