I am progressing with the sale of my maisonette in Hadley Wood and the EA has just text me to advise that the purchasers are swapping law firm. I am told that this is due to the fact that the lender will only work with property lawyers on their approved list. On what basis would a major mortgage company only work with certain lawyers rather the firm that they want to select to handle their conveyancing in Hadley Wood ?
Lenders have always had panels of law firms that can act for them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lending institutions point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any sway in the decision.
I had a mortgage agreed in principle with Bank of Ireland. Hadley Wood conveyancing lawyers have been selected. How long does it take for Bank of Ireland to forward the offer to the conveyancing practitioner?
There is no definitive answer here. Have Bank of Ireland conducted the valuation? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
It is unclear whether my lender requires a lease extension. I have called my Hadley Wood building society branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My Hadley Wood conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they would not lend based on their published requirements. I have no idea who is right.
Your lawyer must follow the Council of Mortgage Lenders’ Handbook Part 2 specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
My offer on a semi in Hadley Wood has been agreed to, the vendors do however have a connected purchase. The owners have offered on on an apartment, but it’s not been accepted yet, and are looking at other apartments booked. I have selected a bricks and mortar conveyancing solicitor in Hadley Wood. What should be my next step? At what stage should I apply for the mortgage with Bank of Ireland?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx £1k, then survey, Hadley Wood conveyancing search fees, etc). First, you must check that your lawyer is on the Bank of Ireland conveyancing panel. Regarding the next stages this very much dictated by the circumstances of your case, attraction to this property and on the state of the market. In a buoyant market some buyers will apply for the mortgage with Bank of Ireland and arrange for the valuation and only if it comes back ok would they ask their conveyancer to proceed with the conveyancing in Hadley Wood.
I have recentlybecome aware that Stirling Law have been shut down. They carried out my conveyancing in Hadley Wood for a purchase of a freehold house 12 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The quickest method to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Hadley Wood conveyancing specialists.
I am selling my house. My former lawyers closed down. It would be helpful to have a recommendation of a conveyancing firm. Im based in Hadley Wood if that affects matters.
Do use our search tool to help you find a solicitor for your conveyancing in Hadley Wood. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
As co-executor for the estate of my uncle I am selling a property in Swansea but live in Hadley Wood. My lawyer (who is 235 kilometers awayhas requested that I sign a stat dec before the transaction finalising. Can you recommend a conveyancing solicitor in Hadley Wood who can witness this legal document for me?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are Hadley Wood based
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £375,000 maisonette in Hadley Wood on Friday in a week. The management company has quoted £348 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Hadley Wood?
Hadley Wood conveyancing on leasehold apartments often necessitates the buyer’s lawyer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be willing to do so. They are at liberty to invoice a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it is above £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to complete the sale of your home.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Hadley Wood conveyancing firm to help?
Most definitely. We can put you in touch with a Hadley Wood conveyancing firm who can help.
An example of a Lease Extension decision for a Hadley Wood premises is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The unexpired residue of the current lease was 76 years.