It has come to my attention via my IFA that my Copse Hill solicitor is not on the mortgage company Solicitor panel. What can I do to check?
The sensible course of action for you to take is to contact your Copse Hill 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 approved list of lawyers for your mortgage company.
We were just about to sign contracts for a garden flat in Copse Hill. We encountered a problem. Our mortgage offer with The Mortgage Works expires on 29/12/2025 but the sellers are suggesting a completion date of 31/12/2025. Can one prolong the loan offer?
The best person to deal with your question is your conveyancer who will calculate whether he or she is should be discussing with the mortgage broker, vendor’s conveyancers, estate agents or possibly all parties based on the circumstances your transaction as of today.
I happen to be the sole recipient of my late grandmother’s will with all property in now in my sole name, including the house in Copse Hill. Conveyancing formalities meant that the Land Registry date was in September. I plan to dispose of the property. I do know about the CML 6 month 'rule', which means that my proprietorship could be regarded the same way as though I had purchased the house in September. Will no one buy the property for half a year?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How practical a view mortgage companies take of it, depend on the mortgage company as this clause is primarily there to capture the purchase and immediately sell or the flipping of property.
Is it the case that all Copse Hill solicitor practices on the Yorkshire BS conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many mortgage companies do allow licenced conveyancers on their panel and in that case the organisation would be regulated by the Council of Licensed Conveyancers.
I can not work out if my bank requires a lease extension. I have called my Copse Hill building society branch on various occasions and was advised it wasn't an issue and they would lend. My Copse Hill conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. I simply don't know who is right.
As long as the lawyer is on the mortgage company panel, she or he must follow the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Should I be suspicious by 3rd parties that I am dealing with are suggesting a web based conveyancing firm rather than a High Street Copse Hill conveyancing practice?
As with lots of professional services, often input from relatives can be most helpful. But there are lots of parties with a keen interest in a conveyancing matter; estate agents, financial adviser and banks might all suggest conveyancers to select. Sometimes these lawyers might be known to one of the organisations as experts in their field, but sometimes there behind the scenes commercial relationship behind the endorsement. You are free to appoint your own conveyancer. Don't forget that some banks operate an approved list of law firms you have to use for the mortgage aspect of your conveyancing.
We're novice buyers - agreed a price, yet the estate agent advised that the vendor will only issue a contract if we instruct their preferred lawyers as they want a ‘quick sale’. We would rather use a local conveyancer with experience of conveyancing in Copse Hill
It is improbable the vendors are behind this. If they want ‘a quick sale', taking such a hostile approach to a genuine purchaser is not the way to achieve this. Bypass the agents and go straight to the sellers and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you will continue to instruct your own,trusted Copse Hill conveyancing solicitors - not the ones that will give the estate agent a introducer fee or meet his conveyancing targets set by senior management.
I am on look out for some leasehold conveyancing in Copse Hill. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and almost all are in Copse Hill - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Copse Hill conveyancing firm to assist?
Where there is a missing freeholder or where there is disagreement 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 make a decision on the price.
An example of a Lease Extension decision for a Copse Hill residence is 83 Balvernie Grove in February 2012. The Tribunal assessed the price to be paid by the leaseholder to the freeholder for the lease extension pursuant to section 48 of the Leasehold Reform Housing & Urban Development Act 1993 should be£16,603.00 This case related to 1 flat. The remaining number of years on the lease was 69.32 years.