Me and my partner are buying a 2 bedroom apartment in Elmers End with a mortgage. We have a Elmers End conveyancer, but the mortgage company says he's not on their "panel". We have to appoint one of the mortgage company panel firms or keep our Elmers End solicitor and pay for one of their panel firms to represent them. We consider that this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you 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 Elmers End conveyancing solicitor to apply to be on the conveyancing panel.
Finally the sale completed on my house in Elmers End last December yet the purchaser is texting me to moan that their solicitor is waiting to hear from mine. What are the post completion sale legalities now that I have sold?
Following your house sale your solicitor should send the transfer deeds and all supplemental paperwork to the purchaser's solicitors. If applicable, your lawyer should also evidence that the legal charge in favour of the lender has been redeemed to the purchasers lawyers. There is unlikely to be post completion formalities just for conveyancing in Elmers End.
How does conveyancing in Elmers End differ for newly converted properties?
Most buyers of new build or newly converted property in Elmers End approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in Elmers End typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Elmers End or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Elmers End prior to appointing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some lenders will not give a loan on such a premises.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you contact us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Elmers End. Conveyancing will be smoother if you use a solicitor in Elmers End especially if they are familiar with such properties in Elmers End.
How easy is it to transfer to a new solicitor as I have to choose one who is on the Accord Mortgages Ltd conveyancing list. I was using a family conveyancing solicitor in Elmers End five minutes from me but the firm is not approved by Accord Mortgages Ltd
It would be our pleasure to assist you select a conveyancing solicitor in Elmers End on the Accord Mortgages Ltd panel. Please note that the property lawyers that we on the directory do not pay us fee if you instruct them and are under regulation of the Solicitors Regulation Authority who regulate all conveyancing solicitors in Elmers End. In utilising search facility on this page, you can scrutinise charges for conveyancing solicitors in Elmers End and beyond.
I am employed by a busy estate agent office in Elmers End where we have experienced a few flat sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Elmers End conveyancing firms. Can you clarify whether the owner of a flat can commence the lease extension process for the buyer?
As long as the seller has been the owner 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 need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
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 have given up negotiating a lease extension in Elmers End. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the amount due.
An example of a Lease Extension matter before the tribunal for a Elmers End residence is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case was in relation to 1 flat. The remaining number of years on the lease was 26.38 years.