lenderpanel

Find a Ilford Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Ilford? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Ilford home move at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Ilford conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Ilford

IfI were to purchase a freehold propertyin Ilford for cash and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Ilford?

Any savings you would achieve would be isolated to the costs for searches. A solicitor still got to do everything else - money laundering, correspond with your vendors conveyancing practitioner, SDLT return, register the title etc. You might save a bit for them not having to register a charge but it won't be a lot.

We had chosen conveyancing lawyers based in Ilford on the Virgin Money solicitor panel. They are now charging me a supplemental amount for handling the Virgin Money mortgage. Is this an additional conveyancing fee set by Virgin Money?

Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your solicitor is entitled to levy a fee for this. The fee is not set by Virgin Money but by your Ilford lawyer. Numerous firms on the Virgin Money panel will levy ’dealing with mortgage’ fee and others do not.

We have agreed to purchase a house in Ilford. An unusual aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?

As you are obtaining a mortgage with Santander your lawyer must comply with the formal requirements set out in Section two of UK Finance Lenders’ Handbook for Santander. The CML Handbook includes minimum provisions for solar panel roof-space leases, and lawyers are required to report to Santander where a lease does not comply with these specifications. The requirements relate to the installation of panels on properties in England and Wales and is not isolated to Ilford.

After much negotiation I have agreed a price on an apartment in Ilford. My financial adviser pressured me to appoint their lawyer. I paid an advanced payment of £175. A couple of days later, the conveyancing practitioner called me to say that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

I am buying a new build flat in Ilford. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.

Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Ilford

    Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?

I am looking for a flat up to £305k and identified one close by in Ilford I like with amenity areas and station in the vicinity, the downside is that it's only got 61 years on the lease. There is not much else in Ilford suitable, so just wondered if I would be making a mistake acquiring a short lease?

Should you require a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.

I am attracted to a couple of flats in Ilford both have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Ilford is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the value of the property. The majority of buyers and lenders, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Ilford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Having spent months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Ilford. Can we issue an application to the Residential Property Tribunal Service?

Most definitely. We are happy to put you in touch with a Ilford conveyancing firm who can help.

An example of a Lease Extension decision for a Ilford premises is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The unexpired term was 61.36 years.

Last updated

Find out more about how flying freehold can affect your the value of a property.