We see that you have a search directory listing firms on the Nationwide conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Loughton?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Loughton.
Is it correct that all Loughton CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing panel?
It is true that some banks and building societies now utilise CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
I had a mortgage agreed in principle with Yorkshire BS. Loughton conveyancing solicitors are appointed. What is the average time that one could expect to receive a mortgage offer from Yorkshire BS?
Some lenders take longer than others. Have Yorkshire BS conducted the valuation? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
My wife and I are spending time viewing apartments in Loughton and I am now considering a potential offer. Should I already have a conveyancing practitioner appointed at this point? I am planning to take a home loan with Bank of Ireland.
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 details on to the selling agent. As you are obtaining a mortgage with Bank of Ireland, make sure you remember to check that your lawyer is on the Bank of Ireland conveyancing panel.
How does conveyancing in Loughton differ for new build properties?
Most buyers of new build premises in Loughton contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Loughton usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Loughton or who has acted in the same development.
I have been on the look out for a flat up to £195,000 and identified one close by in Loughton I like with open areas and transport links nearby, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Loughton in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage the shortness of the lease will likely be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Loughton. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Loughton ?
Most houses in Loughton are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Loughton so you should seriously consider looking for a Loughton conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor should report to you on the legal implications.
I own a ground floor flat in Loughton. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
in cases where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to judgment on the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Loughton residence is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case affected 2 flats. The unexpired term as at the valuation date was 69.26 years.
What can I do where I am dissatisfied with the lawyer who undertook my conveyancing in Loughton?
Occasionally the level of service you receive is not as you expect, and is is a fact of life that sometimes things do go wrong. Nevertheless there is recourse where you were unhappy with your conveyancing in Loughton. This varies from trying to resolve matters directly with them, through to reporting a solicitor to their governing body. If things still aren’t sorted out you may consider enlisting the help of the Legal Ombudsman.