I am hoping to receive a offer of a home loan from Halifax. I intend to enlist the help of a Licensed Conveyancer in Cricklewood. Does the Halifax Solicitor panel exclude Licensed Conveyancers?
The Halifax approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
How up to date is your database of Cricklewood solicitors on the Kent Reliance conveyancing panel? Do Kent Reliance send you an updated list?
Cricklewood conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
I am remortgaging my home in Cricklewood, does my lawyer need to be on the Principality Conveyancing panel?
In theory, you could use a solicitor that is not on the Principality conveyancing panel, but Principality would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I acquired my home on 3 March and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in Cricklewood expressed confidence that it should be dealt with in less than a month. Are transfers in Cricklewood uniquely lengthy to register?
There is nothing unique about conveyancing in Cricklewood registration formalities. Rather than based on location, timescales can adjust depending on who lodges the application, whether there are errors and if the Land registry must send notices to any other persons or bodies. Currently in the region of three quarters of submission are fully addressed within two weeks but occasionally there can be extensive delays. Registration takes place once the new owner is living at the premises so 'speed' is not typically an essential issue yet if there is a degree of urgency associated with the registration then you or your solicitor must contact the land registry and explain the circumstances.
I have been on the look out for a leasehold apartment up to £305k and identified one near me in Cricklewood I like with open areas and transport links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Cricklewood suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage that many years will likely be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
I am attracted to a couple of maisonettes in Cricklewood which have approximately 50 years unexpired on the leases. Will this present a problem?
There are plenty of short leases in Cricklewood. The lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and it becomes more costly to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena.
I have given up trying to purchase the freehold in Cricklewood. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Cricklewood premises 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.