I was advised recently by my mortgage adviser that my Brent Cross lawyer is not on the lender Conveyancing panel. What can I do to check?
Your first step should be to call your Brent Cross lawyer directly. It is reasonable to expect your lawyer to inform you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
We are buying a purpose built apartment in Brent Cross with a residential mortgage from National Westminster Bank.We would like to retain our Brent Cross conveyancing practitioner but National Westminster Bank says his firm is not on their approved list of member firms. It seems we are left with little choice but to instruct a National Westminster Bank panel firm or keep our local solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that National Westminster Bank use our lawyer?
Unfortunately,no. The loan offered to you is subject to its various provisions, one of which will be that conveyancers must be on the National Westminster Bank conveyancing panel. Until recently, most banks 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for National Westminster Bank
I am assisting my sister sell her flat in Brent Cross. Does the conveyancer commission the energy performance certificate or it is for the owner to coordinate?
After the abolition of Home Packs, EPC’s was retained a required part of moving house. An energy performance certificate should be to hand before the property is advertised. This is not a task that lawyers normally organise. Where you are using a Brent Cross conveyancing solicitor they might help arrange EPC’s given their contacts with long established local assessors
is it true that all Brent Cross solicitor firms on the Principality conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Principality approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many banks do permit licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.
How can we tell if a Brent Cross conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Brent Cross 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 suggest that you speak with the solicitor conducting your conveyancing.
How does conveyancing in Brent Cross differ for newly converted properties?
Most buyers of new build or newly converted property in Brent Cross approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is ready to move into. This is because developers in Brent Cross tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Brent Cross or who has acted in the same development.
I opted to have a survey completed on a property in Brent Cross ahead of instructing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some banks may refuse to issue a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements from Halifax. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Brent Cross. Conveyancing will be smoother if you use a solicitor in Brent Cross especially if they are acquainted with such properties in Brent Cross.
I am attracted to a couple of maisonettes in Brent Cross which have about forty five years left on the lease term. Do I need to be concerned?
There is no doubt about it. A leasehold apartment in Brent Cross is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most buyers and banks, leases with less than eighty years become less and less attractive. 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 premises 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 Brent Cross conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Brent Cross conveyancing firm to represent me?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to determine the premium.
An example of a Lease Extension matter before the tribunal for a Brent Cross property is First Floor Flat 61 Wilberforce Road in March 2014. The premium payable was £10,130 and the case was remitted back to the Willesden County Court to effect the Vesting Order (Claim No 3W103100). This case related to 1 flat. The unexpired residue of the current lease was 71 years.