Me and my partner are soon to exchange buying a house in Limehouse but as a result of damage from the recent storms I have was able negotiate compensation from the seller of £3k in the form of a adjustment in the price. I had intended this to be addressed as part of a side agreement however HSBC are not allowing this. Should they have been approached?
Your property lawyer that is on the HSBC approved list is obliged to disclose to HSBC of any amendments to the sale price. If you were to refuse your conveyancer to disclose the reduction to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new lawyer for your conveyancing in Limehouse.
I am selling my flat in Limehouse. Does the conveyancer need to be required to be on the HSBC conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the HSBC conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Limehouse is where the house is located. Is there any advice you can impart?
Flying freeholds in Limehouse are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Limehouse you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Limehouse may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Hoping to buy a property located in Limehouse and I am already nervous. I couldn't find anything specific about Limehouse. Conveyancing will be needed in due course but do you know about the Limehouse area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Limehouse. In the meantime here are some basic statistics that we found
Estate agents have just been given the go-ahead to market my garden apartment in Limehouse. Conveyancing lawyers have not yet been instructed, however I have just received a quarterly service charge demand – Do I pay up?
It best that you clear the maintenance contribution as normal as all rents and maintenance invoices should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the proprietor of a basement flat in Limehouse. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
if there is a absentee freeholder or where 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 calculate the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Limehouse flat is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.