I am buying a terraced house in Harold Wood. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Harold Wood you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Harold Wood.
We expect to receive a AIP from TSB this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do TSB recommend any Harold Wood solicitors on the TSB conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Harold Wood solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
I recently had an offer agreed on a house in Harold Wood. My mortgage broker pressured me to appoint their conveyancer. I paid an on account payment of £150. Not long after, the lawyer contacted me to say that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Virgin Money have agreed my home loan in principle, my bid on a apartment in Harold Wood has been agreed to, what are the next steps?
Your property agent will need to be informed of your conveyancer's details (ensure that the property lawyers are on the lender’s panel). Call up Virgin Money or your financial adviser and finalise any outstanding forms. Virgin Money will appoint a valuer who will get in touch with the selling agent or seller to book a time for the valuation to occur. Once conducted (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Virgin Money will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Harold Wood.
Various online forums that I have frequented warn that are the number one reason for hinderance in Harold Wood conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any delay in conveyancing in Harold Wood.
We're FTB’s - had an offer accepted, but the property agent has warned us that the vendor will only go ahead if we use their recommended conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a high street conveyancer used to conveyancing in Harold Wood
We suspect that the seller is not behind this requirement. Should the vendor desire ‘a quick sale', alienating a genuine purchaser is likely to cause more damage than good. Bypass the agents and go straight to the sellers and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you intend to instruct your own,trusted Harold Wood conveyancing firm - rather thanthe ones that will give the estate agent a referral fee or achieve conveyancing targets demanded by HQ.
Do you have any top tips for leasehold conveyancing in Harold Wood with the aim of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Harold Wood can be bypassed if you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers. Some Harold Wood leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is below 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. The majority of freeholders or managing agents in Harold Wood levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for 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 delay in leasehold conveyancing in Harold Wood.
Having spent months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Harold Wood. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Harold Wood conveyancing firm who can help.
An example of a Lease Extension case for a Harold Wood 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 affected 1 flat. The unexpired term was 57.5 years.
Me and my husband are FTB’s just having agreed a price on a property in Harold Wood, and need to get solicitors appointed. We have made use of the various comparison based websites and the fee estimates are from all across the England and Wales. Is it important to have a Harold Wood solicitor local to the prospective house? I am fine to do everything over the internet, but I am thinking at some point we may need to physically go into the solicitor's office to sign contracts?
The property lawyer does not have to be in Harold Wood, but opting for local means that you can go in if required, for instance, if a signature is needed urgently. Furthermore, a Harold Wood solicitor is likely to be familiar with local agents and (if the vendor has instructed a local lawyer) with them, which should help smooth the process.