I am 4 weeks into the sale of my flat in Cockfosters and the EA has just e-mailed to warn that the purchasers are changing their solicitor. I am told that this is due to the fact that the lender will only engage with property lawyers on their approved list. On what basis would a major mortgage company only deal with specific law firms rather the firm that they want to select to handle their conveyancing in Cockfosters ?
Lenders have always had panels of law firms they are content to work with, but in the past few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lending institutions point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some do not even realise 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 unlikely to have any impact on this.
We were just about to exchange contracts for a property in Cockfosters. We have hit a snag. The loan offer with The Royal Bank of Scotland expires on 20/1/2020 but the vendors are insisting on a completion date of 22/1/2020. Can one prolong the mortgage expiry date?
The best person to deal with your question is your conveyancer who is in a position to assess if they better off negotiating with the mortgage broker, vendor’s conveyancers, estate agents or conceivably all three based on the circumstances your conveyancing as of today.
It is is a decade since I acquired my home in Cockfosters. Conveyancing lawyers have now been retained on the sale but I am unable to track down my title documents. Will this jeopardise the sale?
You need not be too concerned. First the deeds may be retained by your lender or they could be in the possession of the lawyers who acted in the purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. The vast majority of conveyancing in Cockfosters relates to registered property but in the rare situation where your property is unregistered it is more tricky but is resolvable.
I have been recommended a conveyancing solicitor in Cockfosters. I I am struggling to find out if they are on the Santander approved list of lawyers. Could you advise?
You should call your lawyer and enquire whether they are on the lender panel. Otherwise please call Santander who may be able to help.
What tools are available to locate a Cockfosters solicitor on the Barnsley Building Society conveyancing panel? I have a car and am happy to travel upto 25miles to meet the conveyancer.
Feel free to make use of the search on this website. Please select a bank and your location and you will see a number of Cockfosters conveyancing lawyers locally. We have listed some Cockfosters conveyancing firms towards the end of this page and you can call them to see whether they are on the Barnsley Building Society approved list
I want to rent out my leasehold flat in Cockfosters. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your previous Cockfosters conveyancing lawyer is not around you can check your lease to see if it allows you to sublet the apartment. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you need to seek consent via your landlord or some other party in advance of subletting. This means that you cannot sublet without prior consent. The consent should not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
Having spent years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Cockfosters. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing landlord or if 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 assess the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a Cockfosters property is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case affected 2 flats. The unexpired term was 70.31 years.