I am in the process of selling my house in Gerrards Cross and the estate agent has just called to advise that the purchasers are swapping conveyancer. The excuse is that the bank will only deal with property lawyers on their conveyancing panel. Why would a big named lender only engage with specific solicitors rather the firm that they want to choose for their conveyancing in Gerrards Cross ?
Banks have always had an approved set of law firms that can act for them, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lending institutions point to the increase in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms 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 purchasers are not going to have any impact on this.
Completed the sale of my flat in Gerrards Cross last December but our buyer keeps texting every few hours complaining that his lawyer is waiting to hear from mysolicitor. What should have happened now that I have sold?
Following your sale your solicitor is obliged to send the transfer deeds and all additional paperwork to the buyer’s lawyers. If applicable, your lawyer must also evidence that the home loan has been paid off to the buyers solicitors. There is unlikely to be post completion steps peculiar conveyancing in Gerrards Cross.
We're in Gerrards Cross, First timers buying with a mortgage (lender is Nottingham , and our lawyer is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor 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.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Gerrards Cross. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Gerrards Cross
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
What makes your site different to alternative online quote calculators for conveyancing in Gerrards Cross?
At this site receive a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Gerrards Cross. As opposed to estate agents and brokerage sites we are not in the business of charging firms a fee if you instruct them for your home move in Gerrards Cross
After months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Gerrards Cross. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Gerrards Cross conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Gerrards Cross residence is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case related to 3 flats. The remaining number of years on the lease was 71 years.
Are there common defects that you come across in leases for Gerrards Cross properties?
There is nothing unique about leasehold conveyancing in Gerrards Cross. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:
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A duty to insure the building A provision to repair to or maintain elements of the building
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Mortgage Works, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.