I am progressing with the sale of my apartment in Woodford Green and the EA has just text me to warn that the buyers are swapping solicitor. I am told that this is due to the fact that the mortgage company will only engage with property lawyers on their approved list. Why would a big named mortgage company only deal with certain law firms rather the firm that they want to appoint for their conveyancing in Woodford Green ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Banks point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.
I'm purchasing a new build house in Woodford Green benefiting from help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not reveal to my solicitor about this extras as it could impact my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a quick, no chain conveyancing. Woodford Green is where the house is located. Can you shed any light on this issue?
Flying freeholds in Woodford Green are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Woodford Green you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woodford Green may ascertain 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 property.
In my capacity as executor for the will of my father I am disposing of a house in Newport but reside in Woodford Green. My lawyer (approximately 250 miles from mehas requested that I execute a statutory declaration before the transaction finalising. Can you recommend a conveyancing solicitor in Woodford Green who can attest this legal document for me?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are based in Woodford Green
Harry (my fiance) and I may need to let out our Woodford Green basement flat for a while due to a new job. We used a Woodford Green conveyancing practice in 2004 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Woodford Green do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I inherited a second floor flat in Woodford Green. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
in cases where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the premium.
An example of a Freehold Enfranchisement case for a Woodford Green premises is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case related to 2 flats. The number of years remaining on the existing lease(s) was 69.26 years.