We are intending to purchase a 1 bedroom flat in Chinatown with a mortgage. We would like to retain our Chinatown conveyancer, however the lender says he's not on their "panel". It seems we have no option but to select one of the mortgage company panel conveyancing practices or retain our Chinatown conveyancing practitioner and pay for one of their panel ones to act for them. This feels very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders 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 Chinatown conveyancing lawyer to apply to be on the conveyancing panel.
Why do I have to pay up front for my conveyancing in Chinatown?
Where you are retaining lawyers for conveyancing in Chinatown your lawyer will request that you place them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the sale price then this will be asked for immediately prior to contracts are exchanged. The closing balance that is due should be sent to your lawyer a couple of days prior to the completion date.
Due to the advice of my in-laws I had a survey completed on a property in Chinatown in advance of instructing conveyancers. I have been informed that there is a flying freehold element to the property. The surveyor advised that some banks tend refuse to issue a mortgage on this type of house.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you contact us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Chinatown. Conveyancing may be slightly more expensive based on your lender's requirements.
What tools are available to identify a Chinatown solicitor on the Birmingham Midshires conveyancing panel? I have a car and am prepared to travel upto 10kilometers to meet the conveyancer.
Feel free to make use of the facility on this page. Please select a lender and your location and you will see a number of Chinatown conveyancing lawyers based on proximity. We have detailed some Chinatown conveyancing firms towards the end of this page and you can contact them to see whether they are on the Birmingham Midshires member panel
There are only 72 years unexpired on my flat in Chinatown. I need to extend my lease but my landlord is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have done all that could be expected to track down the freeholder. In some cases an enquiry agent should be helpful to carry out a search and prepare an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Chinatown.
Having spent months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Chinatown. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Chinatown conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Chinatown premises is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case affected 2 flats. The remaining number of years on the lease was 73.92 years.
Our mortgage broker has recommended their solicitor for the conveyancing in Chinatown - won’t it be better to just use them?
It is not always the case and you are free to instruct whichever lawyer you prefer for your Chinatown home move. The conveyancing practitioner put forward by an estate agent may not always be the best conveyancing practitioner, they may recommend their preferred conveyancing firm who are based far away. In this instance you may not have contact with your conveyancer and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.