My financial adviser has requested my East Finchley solicitor’s panel reference for the Lloyds conveyancing panel. What is the best way to discover this. I have e-mailed my local East Finchley office but they have not got back to me yet.
You are best placed to get this information from your East Finchley solicitor . They maintain a central record lender panel numbers.
All was ready to complete my purchase in East Finchley next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the bank expect the insurance to cover?
All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These requirements are not specific to conveyancing in East Finchley.
Having sold my house in East Finchley last May yet the purchaser is whats apping every few hours to moan that her lawyer needs to hear from mylawyer. What are the post completion sale legalities now that I have sold?
Post completion of your house sale your solicitor is committed to forward the transfer deeds and all of the paperwork to the buyer’s lawyers. If applicable, your solicitor should also send confirmation that the home loan has been repaid to the buyers lawyers. There are no post completion steps just for conveyancing in East Finchley.
My lawyer in East Finchley is not listed on the Norwich and Peterborough Building Society Solicitor Panel. Is it possible for me to use my family solicitor notwithstanding that they are excluded from the Norwich and Peterborough Building Society panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your preferred East Finchley solicitors but Norwich and Peterborough Building Society will need to instruct a lawyer on their panel. This will inevitably rack up the overall legal fees and cause delays.
- Choose an alternative practitioner to act in the purchase, obviously checking they are Persuade your lawyer to do everything within their powers to join the Norwich and Peterborough Building Society conveyancing panel
I am employed by a reputable estate agency in East Finchley where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local East Finchley conveyancing solicitors. Can you clarify whether the owner of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I inherited a second floor flat in East Finchley. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
in cases where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to determine the price payable.
An example of a Lease Extension matter before the tribunal for a East Finchley residence is Ground Floor 110 Station Road in June 2013. The Tribunal found that the premium payable for a lease extension should be £31,665. This case was in relation to 1 flat. The unexpired residue of the current lease was 56.65 years.
I need to review costs for conveyancing in East Finchley from various solicitor and choose one. Do I get them to hold tight until I I have my bid accepted on a flat.
You should only request your solicitor to open a file and submit searches once the sales confirmation has been issued by the selling agent particularly as East Finchley conveyancing searches are costly.