After reading moneysavingexpert.com for a cheap lawyer in North Woolwich, many say that I must use a CQS assured lawyer. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to prudent and efficient conveyancing processes through the scheme protocol the standard covers many firms who perform conveyancing in North Woolwich.
We have agreed to purchase a house in North Woolwich. A rare aspect is that the roof has a solar panel. RBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with RBS your lawyer must check the formal requirements set out in Part 2 of UK Finance Lenders’ Handbook for RBS. The Council of Mortgage Lenders’ Handbook sets out minimum requirements for solar panel roof-space leases, and solicitors are required to report to RBS where a lease does not meet these provisions. The conditions relate to the installation of panels on properties countrywide and is not restricted to North Woolwich.
I currently have a mortgage with Bank of Ireland for my property in North Woolwich. Conveyancing was finalised months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
Your original mortgage agreement with Bank of Ireland will provide that you need their approval in advance of renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. It may be that Bank of Ireland 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 Bank of Ireland directly. You need not do this via a Bank of Ireland conveyancing panel firm.
About to purchase maisonette in North Woolwich. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the North Woolwich solicitor is on the Barclays conveyancing panel.
Will my conveyancer be making enquiries concerning flooding as part of the conveyancing in North Woolwich.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in North Woolwich. There are those who purchase a house in North Woolwich, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, but there are a number of checks that may be carried out by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in North Woolwich. The conventional set of completed inquiry forms sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a usual question of the owner to determine whether the property has suffered from flooding. If flooding has previously occurred and is not revealed by the vendor, then a purchaser could commence a legal claim for losses as a result of such an misleading answer. The purchaser’s conveyancers will also conduct an environmental search. This should indicate whether there is a recorded flood risk. If so, additional inquiries should be made.
I'm remortgaging my primary house to a buy to let loan with Barclays Direct and intend to use the remaining equity as a deposit on another house. The neighborhood we are looking at is North Woolwich. Will your solicitors be able to act for both sets of mortgage companies and tie in the conveyances?
Make use of our search tool on this site to ensure that the lawyers are approved by both lenders. Assuming that they are your conveyancer should be able to connect the two conveyancing matters but you should have a chat with you conveyancer and make apparent your expectations and requirements.
I work for a reputable estate agent office in North Woolwich where we see a few flat sales put at risk due to short leases. I have been given contradictory information from local North Woolwich conveyancing solicitors. Could you confirm whether the owner of a flat can start the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the registered owner of a first flat in North Woolwich. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a North Woolwich conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a North Woolwich property is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The unexpired lease term was 69.77 years.