Souldusing a Wanstead Flats conveyancing practitioner make my purchase more efficient?
Existing third party connections are another important factor to consider when choosing conveyancing lawyers. Wanstead Flats law firms enjoy long term relationships with mortgage brokers and property, local authorities, surveyors and other conveyancing firms meaning you will move in shortest possible time. Possessing years of insight into the local area is also a plus .
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Wanstead Flats. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 14/4/2019, the requirements read as follows :
Is it the case that all Wanstead Flats conveyancing solicitors on the RBS conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the RBS approved list of solicitors they would need to be overseen by the SRA. Some lenders do permit licenced conveyancers on their panel in which case such organisation would be governed by the CLC.
My wife and I have organised a further advance on our home loan from Coventry BS as we intend to conduct improvements to our property in Wanstead Flats. Do we need to appoint a high street Wanstead Flats solicitor on the Coventry BS conveyancing panel to deal with the legals?
Coventry BS don't usually instruct a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS list.
The mortgage over my property is with Barclays for my property in Wanstead Flats. Conveyancing was finalised months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Barclays?
You must advise Barclays in advance of letting out your property as this is likely to be a breach of Barclays’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 Barclays directly. You need not do this via a Barclays conveyancing panel solicitor.
I opted to have a survey carried out on a house in Wanstead Flats prior to retaining lawyers. I have been informed that there is a flying freehold element to the house. My surveyor advised that some mortgage companies may refuse to issue a loan on such a property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. If you e-mail us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Wanstead Flats. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wanstead Flats to see if the conveyancing will be more expensive.
I own a leasehold flat in Wanstead Flats. Conveyancing and The Royal Bank of Scotland mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Wanstead Flats who acted for me is not around. Do I pay?
The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Wanstead Flats conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Wanstead Flats Leasehold Conveyancing - Examples of Questions you should consider before Purchasing
It would be a good idea to find out if there are any onerous restrictions in the lease. For example it is reasonably common in Wanstead Flats leases that pets are not permitted in in a block in Wanstead Flats. If you like the flatin Wanstead Flats yet your dog can’t make the move with you then you have a very hard compromise. How much is the ground rent and service charge? Does the lease include onerous restrictions?