I am 4 weeks into the sale of my apartment in Cricklewood and the estate agent has just telephoned to warn that the purchasers are switching solicitor. I am told that this is due to the fact that the bank will only work with property lawyers on their approved list. On what basis would a leading mortgage company only engage with certain law firms rather the firm that they want to appoint to handle their conveyancing in Cricklewood ?
Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Banks blame a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
Can you explain why leasehold purchase conveyancing in Cricklewood costs more?
The conveyancing costs on a leasehold premises in Cricklewood is inevitably higher than on a freehold acquisition or disposal. This is because there is an amount of supplemental investigations required in dealing with the landlord and managing agents to collate the evidence concerning whether the rent and maintenance fee have been paid and whether there are any significant expenditure in the foreseeable future on repairs or maintenance of the building.
I am considering applying for a Barclays mortgage for purchase of a new build (under development) in Cricklewood with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Barclays ?
There is nothing to stop you using your solicitor, but Barclays will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Taking into account that I am about to spend over three hundred thousand on 3 bedroom house in Cricklewood I would like to have a conversation with the solicitor about myhouse move prior to giving the go ahead to the firm. Is this something that you can arrange?
This is something that we encourage - we would be pleased to talk to you we do not take any clients on without you speaking to the lawyer due to be doing your property ownership legalities in Cricklewood.There is no ‘factory style conveyancing’ - every client is an important individual, not a matter number. The practices that we put you in touch with believe that the figure you are provided with for residential conveyancing in Cricklewood should be the amount on the final invoice that you end up paying.
My husband and I are a couple of weeks into a residential purchase having been referred to a firm by the estate agent to carry out the conveyancing in Cricklewood. I am not happy. Could you you assist me in finding new solicitors?
They would need to be really poor in order to consider replacing them. Has the mortgage been sent? In the event that it has you must advise them of the new contact details and have the offer are issued to the new lawyers. The conveyancer needs to be on the banks approved list to avoid added costs and frustration. That should be your first question of the new conveyancers. Our search tool will help you find a lender approved lawyer for your home move in Cricklewood
My wife and I purchased a leasehold flat in Cricklewood. Conveyancing and Lloyds TSB Bank mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Cricklewood who previously acted has long since retired. What should I do?
First make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Cricklewood conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
My wife and I have hit a brick wall in trying to purchase the freehold in Cricklewood. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the price payable.
An example of a Freehold Enfranchisement decision for a Cricklewood property is 73 and 73a St. Pauls Avenue in October 2013. the Tribunal held in accordance with section32 and Schedule 6 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the enfranchisement was fifty three thousand three hundred and sixty one pounds (£53,361.00) This case related to 2 flats. The number of years remaining on the existing lease(s) was 64.61 and 67.18.