I am in the process of selling my house in Grahame Park and the estate agent has just text me to advise that the purchasers are swapping solicitor. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their conveyancing panel. Why would a major mortgage company only deal with specific lawyers rather the firm that they want to select for their conveyancing in Grahame Park ?
Lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lenders justify this action to a rise in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
Completed the sale of my flat in Grahame Park last June yet the purchaser is whats apping every few hours complaining that his solicitor is waiting to hear from mine. What are the post completion sale formalities now that I have sold?
Post completion of your house sale your lawyer should forward the transfer documentation and all of the paperwork to the purchaser's solicitors. If applicable, your conveyancer should also send confirmation that the mortgage has been discharged to the buyers conveyancers. There are no post completion tasks just for conveyancing in Grahame Park.
A friend suggested that where I am purchasing in Grahame Park I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Grahame Park conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about Grahame Park around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Grahame Park Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information about Grahame Park.
Are there restrictive covenants that are commonly identified as part of conveyancing in Grahame Park?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Grahame Park. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Grahame Park differ for newly converted properties?
Most buyers of new build premises in Grahame Park contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because developers in Grahame Park typically buy 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 conveyancers 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 accustomed to new build conveyancing in Grahame Park or who has acted in the same development.
All being well we will complete our sale of a £450,000 maisonette in Grahame Park on Friday in a week. The management company has quoted £420 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Grahame Park?
Grahame Park conveyancing on leasehold apartments often necessitates the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be content to do so. They may levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, without which the charge is technically not due. In reality one has no choice but to pay whatever is requested of you should you wish to complete the sale of your home.
After years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Grahame Park. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We can put you in touch with a Grahame Park conveyancing firm who can help.
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 was in relation to 2 flats. The unexpired term was 71.5 years.