We are purchasing a 1 bedroom apartment in Covent Garden with a mortgage. We like our Covent Garden solicitor, but the mortgage company advise she’s not on their "panel". We have to appoint one of the bank panel solicitors or keep our Covent Garden solicitor as well as pay for one of their panel lawyers to represent them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer 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 Covent Garden conveyancing lawyer to apply to be on the conveyancing panel.
I am soon to exchange on the purchase of a house in Covent Garden but as a result of wreckage from some water damage at the property I have managed to agree reparation from the current proprietors of six thousand pounds taking the form of a adjustment in the price. I had intended this to be dealt with as part of the conveyancing process yet Bank of Ireland are not allowing this. Why were they informed?
Your conveyancing practitioner that is on a Bank of Ireland conveyancing panel is obliged to advise Bank of Ireland of any changes to the purchase price. If you were to refuse your property lawyer to disclose the reduction to Bank of Ireland then they would have to discontinue acting for you. In addition, Bank of Ireland and you would have to appoint a new conveyancing practitioner for your conveyancing in Covent Garden.
I just bought a flat at auction in Covent Garden. Conveyancing is needed. What is next?
Now that you have exchanged you will need to appoint a conveyancing lawyer soon as you are facing a pending deadline in which to complete the purchase. An auction property will have a corresponding auction pack. This will likely include evidence of title and search results. In the case of leasehold property the conveyancing papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You need to hand this to your appointed conveyancing solicitor ASAP. You also need to ensure that you have funds organised to complete on the on the contractual date .
is it true that all Covent Garden solicitor practices on the Aldermore conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Aldermore approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel and in such a situation the firms would be governed by the CLC.
I am currently in the process of buying my council flat in Covent Garden. I have a mortgage offer with Nottingham. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
I decided to have a survey carried out on a property in Covent Garden in advance of instructing lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some lenders may refuse to issue a mortgage on this type of house.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. If you call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Covent Garden. Conveyancing may be slightly more expensive based on your lender's requirements.
I am 17 days into a leasehold purchase having been recommend to a firm by the selling agent to execute conveyancing in Covent Garden. I am not happy. Can you help me find new lawyers?
A solicitor would need to be really bad in order to consider diss instructing them. Has your mortgage offer been generated? In the event that it has you will need to make them aware of the new contact details and have the loan are re-issued. The conveyancer needs to be on the banks approved list to avoid escalating charges and frustration. So that should be your first question of the new lawyers. The search tool will help you find a bank approved conveyancer for your conveyancing in Covent Garden
I’m about to sell my ground floor flat in Covent Garden. Conveyancing solicitors are to be appointed soon, however I have recently had a half-yearly maintenance charge invoice – Do I pay up?
It best that you pay the invoice as you normally would given that all ground rent and maintenance invoices will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Covent Garden conveyancing firm to represent me?
Most certainly. We can put you in touch with a Covent Garden conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Covent Garden property is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case was in relation to 1 flat. The remaining number of years on the lease was 73.26 years.