My husband and I are buying a new build duplex in Harrow and my conveyancer is advising me that she has to the mortgage company to reveal incentives from the builder. I am nearing the developer’s deadline to sign contracts and I have no desire to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My Solicitor in Harrow is not on the Barnsley Building Society Conveyancing Panel. Is it possible for me to continue with my prefered solicitor notwithstanding that they are not on the Barnsley Building Society list of approved lawyers?
The limited options open to you here include:
- Complete the purchase with your existing Harrow lawyers but Barnsley Building Society will need to retain a conveyancer on their list of acceptable firms. This will inevitably rack up the overall legal charges as well as cause delays.
- Find a new practitioner to to deal with the conveyancing, obviously checking they are on the Barnsley Building Society panel
I appreciate that there are debates on Chancel Insurance on online forums. Do I require this when buying a property in Harrow? or Apparently there is an ancient law that means some owners of property living in a parish church boundary may be liable to pay for repairs towards the chancel within the church. Is this relevant for conveyancing in Harrow?
Unless a previous acquisition of the premises completed post 12 October 2013 you can expect solicitors conducting conveyancing in Harrow to continue to advocate a chancel search and or chancel repair liability policy.
I was advised by numerous property agents in Harrow to locate a solicitor on your site. Is there a financial incentive for Estate Agents to offer your site ahead of alternative conveyancing organisations?
We don’t offer any referral fee for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
Am I best advised to instruct a Harrow conveyancing practitioner based in the vicinity that I am purchasing? An old friend can perform the legal work however they are based 300miles away.
The benefit of a local Harrow conveyancing firm is that you can attend the office to execute paperwork, deliver your identification documents and pester them where appropriate. Having local Harrow know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and the majority were happy that should outweigh using an unfamiliar Harrow conveyancing lawyer just because they are round the corner.
Can you provide any top tips for leasehold conveyancing in Harrow from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Harrow can be reduced where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers’ representatives. If you have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The buyers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You will have to accept that you will have to 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unresolved. If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example installed wooden flooring? Harrow leases often stipulate that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord acquiescing to such works. Should you fail to have the paperwork to hand do not contact the landlord without checking with your solicitor first. You believe that you know the number of years left on your lease but it would be advisable verify this via your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. It is therefore essential 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 premises on the market for sale. Some Harrow leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any 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 buyers or their solicitors.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Harrow conveyancing firm to assist?
You certainly can. We are happy to put you in touch with a Harrow conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Harrow property is flat 93b Welldon Crescent in May 2009. The Tribunals valuation for a 90-year lease extension of this fat was £13,171 This case related to 1 flat. The unexpired term as at the valuation date was 75.25 years.