My husband and I are intending to buy a 2 bedroom apartment in Harold Wood with a mortgage. We like our Harold Wood lawyer, however the lender advise she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or retain our Harold Wood solicitor and pay for one of their panel firms to act for them. We regard this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Harold Wood conveyancing solicitor to apply to be on the conveyancing panel.
My wife and I are purchasing a flat in Harold Wood. I might seem paranoid but how we can trust a conveyancer? On the day of competition we will need to send money into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I'm the sole beneficiary of my late father’s will and I have everything in my name alone, including the house in Harold Wood. Conveyancing formalities meant that the Land Registry date was in May. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', meaning my proprietorship will be treated the same way as though I had purchased the property in May. Will no one buy the property for half a year?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. How practical a view lenders take of it, depend on the mortgage company as this clause is chiefly there to pick up on subsales or the quick reselling of property.
I'm in the process of looking at apartments in Harold Wood and I am now considering a potential offer. Is it too early to have a solicitor in place? I will be getting a mortgage with Lloyds.
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 pass their contact information on to the estate agent. Given that you are seeking a mortgage with Lloyds, ask your prospective lawyers if they are on the Lloyds conveyancing panel otherwise they can't do the mortgage legal work.
I opted to have a survey carried out on a property in Harold Wood in advance of instructing solicitors. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some lenders may not grant a mortgage on such a house.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. If you e-mail us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Harold Wood. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Harold Wood to see if the conveyancing will be more expensive.
How difficult is it to switch conveyancer as I have to retain one who is on the HSBC Bank conveyancing list. I hired a family conveyancing solicitor in Harold Wood five minutes from me but he is not accepted by HSBC Bank
We will our best to assist in finding you a conveyancing solicitor in Harold Wood on the HSBC Bank panel. Please note that the solicitors that we list do not pay us commission if you instruct them and are under regulation of the Solicitors Regulation Authority who oversee all conveyancing solicitors in Harold Wood. In utilising search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Harold Wood.
Do you have any advice for leasehold conveyancing in Harold Wood from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Harold Wood can be avoided where you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the purchasers’ representatives. You believe that you know the number of years remaining on your lease but you should verify this by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. Many freeholders or Management Companies in Harold Wood levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Harold Wood. If there is a history of any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
I am the leaseholder of a basement flat in Harold Wood. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?
in cases where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the premium.
An example of a Lease Extension matter before the tribunal for a Harold Wood flat 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 was in relation to 1 flat. The unexpired term was 57.5 years.
Why is New Build conveyancing in Harold Wood more expensive?
Purchasing a new build premises is significantly different from the standard house buying conveyancing in Harold Wood. Firstly developers ordinarily require contracts to exchange very quickly, so there is a lot of pressure on your lawyer to ensure all is in order. In addition new build conveyancing frequently necessitate examination of adoption of highways, drains, planning considerations, building warranties or architects certificates. Mortgage company requirements are also more detailed. Given the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.