I am selling my apartment in Grahame Park. Will the conveyancer need to be required to be on the Leeds Building Society conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
I'm in the process of looking at houses in Grahame Park and I am about to put in an offer. Is it premature to have a solicitor in place? I am planning to take a home loan with Clydesdale.
You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. Given that you are taking out a mortgage with Clydesdale, ask your prospective lawyers if they are on the Clydesdale conveyancing panel otherwise they can't do the mortgage legal work.
I have paid off my mortgage with Coventry BS. I assume I don't need a Grahame Park lawyer on the Coventry BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
Leeds Building Society have agreed my mortgage in principle, my offer on a property in Grahame Park has been accepted, now what?
The estate agent will need to be advised as to your conveyancer's details (make sure the conveyancing practitioners are on the bank’s panel). Contact Leeds Building Society or the broker and finalise any appropriate forms. Leeds Building Society will appoint a valuer who will get in touch with the estate agent or owners to book an appointment. Once carried out (assuming no problems) it takes about a week for the mortgage offer to be issued. Leeds Building Society will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Grahame Park.
Am I right to be wary about brokers that I am dealing with are suggesting a nationwide conveyancing firm rather than a High Street Grahame Park conveyancing firm?
As is the case with many professional services, often input from connections can be most helpful. Yet there are numerous parties with a vested interest in a conveyancing matter; estate agents, mortgage brokers and banks might all suggest solicitors to choose. On occasion these conveyancers might be known to one of the organisations as experts in their field, but sometimes there behind the scenes commercial relationship behind the endorsement. You have the discretion to choose your own lawyer. However, bear in mind that most mortgage providers operate an approved list of lawyers you are obliged to use for the lender aspect of your conveyancing.
As co-executor for the estate of my father I am selling a house in Cardiff but live in Grahame Park. My lawyer (who is 260 miles awayrequires that I execute a stat dec ahead of completion. Could you suggest a conveyancing solicitor in Grahame Park who can attest and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will suffice regardless of whether they are Grahame Park based
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Grahame Park. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Grahame Park ?
Most houses in Grahame Park are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Grahame Park so you should seriously consider shopping around for a Grahame Park conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.
We have reached the end of our tether in trying to reach an agreement for a lease extension in Grahame Park. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the LVT to make a decision on the premium.
An example of a Freehold Enfranchisement case for a Grahame Park residence is 1 & 1A Sunningfields Crescent in September 2013. The Tribunals calculation of the amount to be paid into court in respect of the value of the freehold interest is £11,997 in respect of Flat 1 and £15,781 in respect of Flat 1A for a total of £27,778. This case related to 2 flats. The number of years remaining on the existing lease(s) was 71.5 years.
My nephew is embarking on her first house purchase, he had his mortgage in principle. One the offer was accepted on house we telephoned the bank to move forward with his. We were very surprised to hear that mortgage companies do not accept all lawyer, they have to be on a list, is this correct?
Lenders tend to restrict either the type or the number of conveyancing firms on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Grahame Park solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.