My partner and I are planning to acquire a house in Tottenham and have appointed a Tottenham conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Platform Home Loans Ltd have this morning contacted us to advise us that they have now hit a problem as our Tottenham solicitor is not on their approved list of lawyers. Is this a problem?
If you are buying a property requiring a mortgage it is normal for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Tottenham lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
When will exchange of contracts happen for domestic conveyancing in Tottenham and do I need to attend the lawyers branch?
Where you are near to one of the conveyancing solicitors in Tottenham you are invited in to sign the paperwork. That being said, the law practices we recommend offer countrywide coverage for conveyancing and give just as detailed and professional a job for you when dealing with you by post or email. The executing of the purchase agreement is not the important part. Signing on the dotted line is necessary for the firm to address the formalities at the suitable time, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Tottenham)to be in the office available at the end of the phone to exchange contracts.
My brother-in-law has suggested I instruct a conveyancing solicitor in Tottenham. I I would like to check whether they are accepted on the Skipton Building Society conveyancing panel. Can you advise?
The first thing you should do is e-mail the lawyer and enquire whether they are on the lender panel. Alternatively you should call Skipton Building Society who may be able to confirm.
How can we tell if a Tottenham conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in Tottenham obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer handling your transaction.
My wife and I are in the process of viewing flats in Tottenham and I am about to put in an offer. Should I already have a property lawyer appointed at this point? I intend to finance via a home loan with TSB.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. As you are seeking a mortgage with TSB, ask your prospective lawyers if they are on the TSB conveyancing panel otherwise they can't do the mortgage legal work.
I have paid off my mortgage with HSBC. I assume I don't need a Tottenham conveyancer on the HSBC panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
Are there restrictive covenants that are commonly picked up as part of conveyancing in Tottenham?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Tottenham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Do you have any top tips for leasehold conveyancing in Tottenham from the perspective of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Tottenham can be reduced where you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers’ solicitors. You may think that you are aware of the number of years left on your lease but you should verify this by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If there is a history of conflict with your landlord or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic rather than unresolved. Many landlords or Management Companies in Tottenham charge for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Tottenham. If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you installed wooden flooring? Tottenham leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. If you dont have the approvals to hand do not communicate with the landlord without checking with your solicitor in advance.
I have given up trying to reach an agreement for a lease extension in Tottenham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Tottenham premises is 30 Strode Road in June 2013. Following a vesting order by Edmonton County Court on 20th February 2013 the Tribunal arrived at a valuation for enfranchisement of £10,256 for the premises (£4,074 for the Ground Floor Flat and £6182 for the First Floor Flat) and £100 for the appurtenant land. This case was in relation to 2 flats. The unexpired term as at the valuation date was 83.33 and 77.3.