I am in the process of selling my maisonette in Havering and the EA has just e-mailed to advise that the buyers are switching conveyancer. I am told that this is due to the fact that the bank will only work with solicitors on their conveyancing panel. On what basis would a major mortgage company only engage with certain lawyers rather the firm that they want to choose for their conveyancing in Havering ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lending institutions point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any sway in the decision.
My bank has recommended solicitors on their panel based in Havering but I would rather choose a conveyancing lawyer in Havering or nearer to where I live. Are you able to assist?
Far from all Havering conveyancing firms are on all lender’s conveyancing panel. Use our find an approved solicitor tool to choose a Havering conveyancing solicitor on the on the bank panel.
I am buying a new build flat in Havering. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Havering
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. There must be mutual enforceability of lessee’s covenants.
What does commercial conveyancing in Havering cover?
Non domestic conveyancing in Havering covers a wide range of guidance, provided by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
My husband and I are new on the property ladder - had an offer accepted, yet the agent advised that the vendor will only go ahead if we instruct the agent's preferred solicitors as they want a ‘quick sale’. My instinct tells me that we should use a high street solicitor with experience of conveyancing in Havering
It is unlikely the sellers are behind this. If they want ‘a quick sale', turning down a motivated purchaser is is going to put the whole deal at risk. Try to communicate with the sellers directly and make the point that (a)you are motivated buyers (b)you are ready to go, with finances arranged © you are chain free (d) you intend to proceed fast (e)however you intend to appoint your own,trusted Havering conveyancing firm - rather thanthose that will give the negotiator at the agency a commission or hit his conveyancing figures demanded by corporate headquarters.
I am attracted to a two flats in Havering which have in the region of fifty years left on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Havering. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease reduces and it becomes more expensive to extend the lease. This is why it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this area.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Havering conveyancing firm to act on my behalf?
Where there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.
An example of a Lease Extension decision for a Havering 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 was in relation to 1 flat. The unexpired term as at the valuation date was 57.5 years.