Me and my partner are purchasing a 3 bedroom apartment in Albany Park with a mortgage. We wish to retain our Albany Park conveyancer, however the mortgage company advise she’s not on their "panel". We have to appoint one of the bank panel solicitors or retain our Albany Park solicitor as well as pay for one of their panel firms to represent them. We consider that this is inequitable; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Albany Park conveyancing solicitor to apply to be on the conveyancing panel.
It is is a decade since I acquired my house in Albany Park. Conveyancing lawyers have now been appointed on the sale but I am unable to find my title documents. Will this cause complications?
Don’t worry too much. First the deeds may be kept by the mortgage company or they may be in the possession of the conveyancers who oversaw your purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors obtaining up to date copy of the land registers. Nearly all conveyancing in Albany Park relates to registered property but in the rare situation where your home is unregistered it adds to the complexity but is resolvable.
We're in Albany Park, FTBs buying with a mortgage (lender is Lloyds , and our lawyer is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have been told that property searches are the number one cause of delay in Albany Park conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Albany Park.
Due to the guidance of my in-laws I had a survey completed on a house in Albany Park prior to appointing conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some lenders may not give a loan on such a property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Albany Park. Conveyancing may be slightly more expensive based on your lender's requirements.
If all goes to plan we aim to complete our sale of a £475,000 garden flat in Albany Park in just under a week. The management company has quoted £408 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Albany Park?
Albany Park conveyancing on leasehold maisonettes usually requires the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to assist. They are at liberty to levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some transactions it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, otherwise the charge is not strictly payable. In reality one has no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Albany Park conveyancing firm to help?
Most definitely. We are happy to put you in touch with a Albany Park conveyancing firm who can help.
An example of a Vesting Order and Purchase of freehold case for a Albany Park flat is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case affected 2 flats. The unexpired lease term was 80.01 years.