Unfortunately I am unable to travel far from Homerton. Is there a reason why all Homerton conveyancers are not on all lender panels?
A decade ago most banks demonstrated an attitude to risk which differs from the current day. The financial regulator in 2010 conducted a thematic review into property fraud which concluded: know the lawyers on your panel. Accordingly, lenders have subsequently looked to extract more information from law firms regarding their operations and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Hundreds of law practices have found themselves excluded from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the minimum amount of transactions the mortgage companies set.
When will exchange of contracts happen for domestic conveyancing in Homerton and do I need to be at the lawyers office?
If you are in close proximity to our conveyancing solicitors in Homerton you are invited in to sign the paperwork. That being said, the law practices we recommend supply a countrywide conveyancing service and give just as detailed and professional a job for you when dealing with you by post or email. The executing of the contract is not the important part. A signed contract simply enables the solicitor to address the formalities at the appropriate time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Homerton)to be in the office at the appropriate time.
Are there restrictive covenants that are commonly identified during conveyancing in Homerton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Homerton. 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'm converting the mortgage on my current property to a buy to let mortgage with National Westminster Bank and intend to use the remaining equity as a down payment on further property. The location we are talking about is Homerton. Will your solicitors be able to act for the two banks and link together the conveyances?
Do use our comparison tool on this page to ensure that the solicitors are approved by both lenders. Assuming that they are the conveyancer should be able to connect the two deals but you should have a chat with you lawyer and make clear your desired outcome and needs.
Back In 2002, I bought a leasehold house in Homerton. Conveyancing and The Mortgage Works mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Homerton who previously acted has long since retired. What should I do?
First make enquiries of HMLR to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Homerton conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I own a first floor flat in Homerton. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
Where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Homerton flat is 104 Nightingale Road in May 2009. The Tribunal's Decision is that the premium torbe paid for the enfranchisement in this case is £112,174 This case affected 10 flats. The number of years remaining on the existing lease(s) was 71.25 years.