I am nearing exchange of contracts for my apartment in Ruislip Gardens and the estate agent has just e-mailed to advise that the buyers are swapping property lawyer. The reason given is that the lender will only deal with property lawyers on their approved list. On what basis would a big named lender only engage with specific lawyers rather the firm that they want to appoint for their conveyancing in Ruislip Gardens ?
Banks have always had panels of law firms they are willing to work with, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Mortgage companies blame a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say 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. 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. Your purchasers are not going to have any sway in the decision.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to appoint their panel solicitor as I would much rather appoint a Ruislip Gardens based conveyancing firm?
You should check but the chances are that give you one of their panel conveyancers should you accept the "fee-free" deal. Speak to the lender to explore if they offer you a cash alternative. Some lenders have previously offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor near Ruislip Gardens.
Have just purchased a probate house at auction in Ruislip Gardens. Conveyancing is needed. What happens now?
Having exchanged you should choose a conveyancing lawyer as a matter of priority as you now have a tight a drop dead date to complete the property. All auction property should have a bespoke legal pack. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the conveyancing pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to leasehold premises. You must hand this to the lawyer working for you as soon as possible. You also need to ensure that you have funds in order to complete the transaction on the set completion date.
We are purchasing a detached bungalow in Ruislip Gardens. The intention is to convert the garage to a playroom at the house.Will the conveyancing process include enquiries to determine if these works are prohibited?
Your conveyancer should review the deeds as conveyancing in Ruislip Gardens can sometimes reveal restrictions in the title documents which prevent certain alterations or require the consent of another owner. Some additions call for local authority planning consent and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
After much negotiation I have agreed a price on an apartment in Ruislip Gardens. My mortgage broker pressured me to appoint their solicitor. I paid an advanced payment of £200. A few days later, the property lawyer called me sheepishly admitting that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The lawyers who handled the conveyancing in Ruislip Gardens 4 years ago have long since closed. What are my options?
As long as you have a registered title the information relating to your ownership will be held by the Land Registry under a Title Number. It is easy to conduct a search at the Land Registry, identify your property and secure up to date copies of the property title for less than a fiver. Where the property is Leasehold then the Land Registry will in most cases hold a file duplicate of the Registered Lease and again, a copy can be ordered for twenty pounds.
I am tempted by the attractive purchase price for a couple of apartments in Ruislip Gardens both have in the region of fifty years left on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Ruislip Gardens is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of buyers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Ruislip Gardens conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Ruislip Gardens conveyancing firm to assist?
Most certainly. We can put you in touch with a Ruislip Gardens conveyancing firm who can help.
An example of a Lease Extension decision for a Ruislip Gardens property is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case affected 1 flat. The unexpired lease term was 53.26 years.
I am looking to acquire a repossessed property in Ruislip Gardens and the mortgagee in possession would like to complete within 28 days. Do lawyers meet that timeframe? Am I best advised to use a high street Ruislip Gardens firm or an online firm that professes to offer speedy conveyancing?
Visit your Ruislip Gardens shopping parade. Pop in to 3 companies and request to talk to a conveyancing solicitor for a quote. Set out your needs and get assurances on time frames. Appoint the one that comes across as most efficient. Make sure to choose a lawyer on the list of lawyers approved by your mortgage company.