My husband and I are hoping to buy a house in Harold Hill and are in fact using a Harold Hill conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. National Westminster Bank have this morning contacted us to inform me that they have now hit a problem as our Harold Hill conveyancer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Harold Hill lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
I purchased a freehold house in Harold Hill yet pay rent, why is this and what is this?
It is rare for properties in Harold Hill and has limited impact for conveyancing in Harold Hill but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I have been recommended a conveyancing solicitor in Harold Hill. I I would like to check whether they are on the Nottingham Building Society approved list of lawyers. Could you or the lender confirm if they are on the panel?
The first thing you should do is contact your lawyer and ask them whether they are on the lender panel. Otherwise you can call Nottingham Building Society who may be able to assist.
Various internet forums that I have visited warn that are the number one cause of hinderance in Harold Hill house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in Harold Hill.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Harold Hill. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Harold Hill
Please confirm the Lease plans are architect prepared. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Harold Hill conveyancing firm to help?
Absolutely. We are happy to put you in touch with a Harold Hill conveyancing firm who can help.
An example of a Lease Extension decision for a Harold Hill residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The unexpired term as at the valuation date was 57.5 years.
In relation to leasehold conveyancing in Harold Hill what are the most common lease problems?
Leasehold conveyancing in Harold Hill is not unique. Most leases are drafted differently and legal mistakes in the legal wording can result in certain clauses are missing. The following missing provisions could result in a defective lease:
A provision for the recovery of money spent for the benefit of another party.
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Skipton Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.