My fiance and I are looking to purchase a house in Lea Bridge and are in fact using a Lea Bridge conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Accord Mortgages Ltd have this morning contacted us to inform me that they have now hit a problem as our Lea Bridge solicitor is not on their approved list of lawyers. What do we do from here?
If you are buying a property requiring a mortgage it is usual for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Lea Bridge solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Our Lea Bridge lawyer has spotted a difference between the surveyor’s assumptions in the home valuation survey and what is revealed within the legal papers for the property. My lawyer informs me that he needs to ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action correct?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications 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.
Have purchased a a detached house in Lea Bridge , What is the estimated time for the Land Registry to register my ownership? My Lea Bridge conveyancing solicitor has been painfully slow, so I want to be sure the registration is concluded.
There is nothing unique when it comes to conveyancing in Lea Bridge registration formalities. Rather than based on location, timeframes can adjust depending on the party submitting the application, whether there are errors and whether the Land registry must send notices to any third persons or bodies. At present roughly 80% of submission are fully dealt with in less than three weeks but occasionally there can be longer delays. Registration occurs after the purchaser is living at the premises so 'speed' is not typically top priority yet if it is urgent that the the registration takes place urgently then you or your lawyers must communicate with the Registry to express the reasoning for the application to be prioritised.
I'm converting the mortgage on my existing house to a BTL loan with Leeds Building Society and intend to use the remaining equity towards a second property. The neighborhood we are interested in is Lea Bridge. Will your conveyancers be able to act for both sets of lenders and link together the conveyances?
Make use of our search tool on this page to be sure that the lawyers are approved by both mortgage companies. On the basis that they are your conveyancer will be able to tie up the two conveyancing matters but you should have a chat with you solicitor and communicate your desired outcome and needs.
I want to sublet my leasehold flat in Lea Bridge. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Even though your previous Lea Bridge conveyancing lawyer is not around you can check your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek permission from your landlord or some other party in advance of subletting. This means that you cannot sublet in the absence of first obtaining consent. Such consent should not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you will need to ask your landlord for their consent.
I inherited a two-bedroom flat in Lea Bridge. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
Most definitely. We are happy to put you in touch with a Lea Bridge conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Lea Bridge property 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 was in relation to 10 flats. The unexpired residue of the current lease was 71.25 years.