I am purchasing a leasehold flat in Gerrards Cross. My lawyer is not listed on the mortgage company conveyancing panel. Is it possible for me to continue with my Gerrards Cross conveyancing solicitor notwithstanding that they are excluded from the lender panel of approved conveyancing solicitors?
You must use a property lawyer to complete the formalities if you take out a mortgage to buy your property. The lawyer will conduct all the relevant investigations on the property, make sure that you’re registered as proprietor and ensure that all the necessary mortgage documentation is dealt with. You may select a Gerrards Cross solicitor of your choice. However, where the conveyancing practitioner appointed is not on the lender solicitor panel further costs will arise as separate legal representation will be need by the lender. Conveyancing panel applications may be submitted, so if your lawyer has not in the past sought membership they should take the chance to apply.
My wife and I are acquiring a newly constructed duplex in Gerrards Cross and my lawyer is informing me that she has to the bank to disclose incentives from the builder. I am nearing the developer’s deadline to exchange contracts and I would rather not delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Gerrards Cross?
There are many registered licenced Conveyancers in Gerrards Cross and Solicitor practices in Gerrards Cross offering conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. The two can conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I am purchasing a property in Gerrards Cross. One unusual aspect is that the roof has a solar panel. Principality have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Principality your lawyer must follow the formal requirements set out in Section two of UK Finance Lenders’ Handbook for Principality. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Principality where a lease fails to satisfy these requirements. The provisions relate to the installation of panels on properties in England and Wales and is not limited to Gerrards Cross.
We were going to get a DIP from HSBC this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do HSBC recommend any Gerrards Cross solicitors on the HSBC conveyancing panel, or is it better to go independently?
You will need to appoint Gerrards Cross solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
We are close to exchanging contracts on the sale of our property in Gerrards Cross and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using a web based conveyancing practice as opposed to a conveyancing solicitor in Gerrards Cross. We have lived in Gerrards Cross for three years we know that this is a non issue. Do we contact our local Authority to obtain confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I work for a busy estate agency in Gerrards Cross where we see a few leasehold sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Gerrards Cross conveyancing firms. Could you confirm whether the vendor of a flat can start the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is 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 purchaser.
I inherited a two-bedroom flat in Gerrards Cross. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
if there is a missing landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the premium.
An example of a Lease Extension matter before the tribunal for a Gerrards Cross premises is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case was in relation to 3 flats. The number of years remaining on the existing lease(s) was 71 years.
Are Gerrards Cross conveyancing solicitors duty bound by the Law Society to supply transparent conveyancing figures?
Contained within the Solicitors Code of Conduct are specific rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be interpreted as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, constitute the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Gerrards Cross or or elsewhere in the country.