My fiance and I are looking to purchase a flat in Arnos Grove and have instructed a Arnos Grove conveyancing firm. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Skipton Building Society have this morning contacted us to advise us that there is now an issue as our Arnos Grove conveyancer is not on their approved list of lawyers. What do we do from here?
If you are buying a property requiring a mortgage it is usual for the purchasers' lawyers to also act for 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 property lawyer should contact your mortgage company 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 don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Arnos Grove lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
My grandson is purchasing a new build apartment in Arnos Grove with a home loan from Nationwide. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nationwide conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
As someone not used to the Arnos Grove conveyancing process what’s the number one tip you can impart concerning the house moving process in Arnos Grove
Not many law firms or advisers will tell you this but conveyancing in Arnos Grove and elsewhere in England and Wales is an adversarial process. In other words, when it comes to conveyancing there exists lots of room for confrontation between you and other parties involved in the ownership transfer. For instance, the vendor, estate agent and on occasion the mortgage company. Appointing a lawyer for your conveyancing in Arnos Grove should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the process whose responsibility is to protect your best interests and to protect you.
Sometimes a potential adversary may try and sway you that you should follow their advice. For instance, the estate agent may claim to be helping by claiming that your lawyer is dragging his heels. Or your financial adviser may tell you to do take action that is against your lawyers guidance. You should always trust your lawyer above all other parties in the conveyancing process.
Despite weeks of looking the Title Certificate and documents to our property are lost. The solicitors who conducted the conveyancing in Arnos Grove 10 years ago are no longer around. Will I be able to sell the house?
These day there are duplicates made of almost everything, and your conveyancer should be aware exactly where to locate all the appropriate paperwork so you can purchase or sell your house without a hitch. Where copies are not available, your conveyancer may be able to arrange cover in the form of insurance or indemnities against possible claims on your property.
Back In 2008, I bought a leasehold flat in Arnos Grove. Conveyancing and The Mortgage Works mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Arnos Grove who acted for me is not around. Do I pay?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Arnos Grove conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I have had difficulty in trying to reach an agreement for a lease extension in Arnos Grove. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to assess the amount due.
An example of a Freehold Enfranchisement case for a Arnos Grove property is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The remaining number of years on the lease was 70.31 years.
How much experience do your Arnos Grove conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Arnos Grove conveyancing lawyers help thousands of buyers move home every year and assisted lots of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Arnos Grove conveyancers have worked on recent similar matters.