I was told yesterday by my lender that my Cricklewood property lawyer is not on the lender Conveyancing panel. What can I do to be sure that this is correct?
The first thing you need to do is to call your Cricklewood lawyer directly. It is reasonable to expect your lawyer to inform you of the situation. 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.
I am the registered owner of a freehold house in Cricklewood yet pay rent, why is this and what is this?
It’s unusual for properties in Cricklewood and has limited impact for conveyancing in Cricklewood but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I am considering applying for a Bank of Ireland mortgage for purchase of a new build (under development) in Cricklewood with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland ?
There is nothing to stop you using your solicitor, but Bank of Ireland 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.
is it true that all Cricklewood solicitor firms on the Nottingham conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Nottingham conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. The majority of lenders do list licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.
I recently had an offer agreed on an apartment in Cricklewood. My financial adviser recommended their conveyancers. I paid an advanced payment of £200. Not long after, the conveyancing practitioner contacted me to say that they were not on the Yorkshire BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Yorkshire BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Planning on purchasing a house in Cricklewood. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nottingham conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Cricklewood lawyer is on the Nottingham conveyancing panel.
I am looking for a leasehold apartment up to £305k and identified one near me in Cricklewood I like with open areas and transport links nearby, however it's only got 51 years on the lease. I can't really find anything else in Cricklewood in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan the shortness of the lease will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
We're first time buyers - agreed a price, but the agent informed us that the owners will only move forward if we appoint their recommended solicitors as they need a ‘quick sale’. We would rather use a family conveyancer with experience of conveyancing in Cricklewood
We suspect that the owner is unaware of this request. If they desire ‘a quick sale', turning down a genuine purchaser is is going to put the whole deal at risk. Speak to the owners direct and make sure they comprehend that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you will continue to appoint your own,trusted Cricklewood conveyancing solicitors - not the ones that will earn the estate agent a commission or meet his conveyancing targets set by HQ.