Last January we completed a house move in Mill Hill. We have noticed several problems with the property which we believe were missed in the conveyancing searches. What action can we take? What searches should? have been conducted as part of conveyancing in Mill Hill?
It is not clear from the question as what problems have arisen and if they are specific to conveyancing in Mill Hill. Conveyancing searches and investigations undertaken as part of the buying process are designed to help avoid problems. As part of the legal transfer of property, the vendor fills in a questionnaire known as a SPIF. If the information ends up being misleading, you could possibly take legal action against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Mill Hill.
Why do I have to pay up front when it comes to conveyancing in Mill Hill?
If you are buying a property in Mill Hill your solicitor will ask you place them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. If any deposit is as part of the total price then this will be asked for immediately before exchange of contracts. The final balance that is due will be payable shortly before completion.
My property lawyer in Mill Hill is not listed on the Nationwide Building Society Approved Panel. Is it possible for me to retain my prefered solicitor notwithstanding that they are excluded from the Nationwide Building Society panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your existing Mill Hill solicitors but Nationwide Building Society will need to retain a solicitor on their panel. This will inevitably rack up the overall conveyancing charges as well as cause delays.
- Get an alternative practitioner to to deal with the purchase, not forgetting to check they are Nationwide Building Society approved.
- Persuade your Nationwide Building Society based solicitor to attempt to join the Nationwide Building Society panel
Is there a list of Coventry BS panel solicitors in Mill Hill on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. A small selection of mortgage companies make their panel listings available over the internet. Where you are seeking to appoint a Mill Hill property lawyer on the Coventry BS please make the most of our facility.
We previously appointed solicitors located in Mill Hill on the Bank of Ireland solicitor panel. They have just invoiced me a separate sum for handling the Bank of Ireland mortgage. Is this an additional conveyancing fee set by Bank of Ireland?
Provided it is contained in their Terms of Engagement or Quote then yes your solicitor can levy a fee for this. The charge is not set by Bank of Ireland but by your Mill Hill property lawyer. Numerous firms on the Bank of Ireland panel will quote ’dealing with mortgage’ fee and others do not.
It is unclear whether my bank requires a lease extension. I have called into my local Mill Hill building society branch on various occasions and was told they are content with the situation and they will lend. My Mill Hill conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. Who do I believe?
Your conveyancing practitioner has to follow the CML Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am looking for a flat up to £245,000 and found one near me in Mill Hill I like with a park and station nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Mill Hill in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
Do you have any advice for leasehold conveyancing in Mill Hill from the perspective of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Mill Hill can be avoided if you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers. You may think that you are aware of the number of years left on your lease but you should verify this by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. It is therefore essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Mill Hill state that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord approving such alterations. Where you fail to have the consents to hand do not contact the landlord without contacting your conveyancer in the first instance. Some Mill Hill leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
Despite our best endeavours, we have been unsuccessful in trying to reach an agreement for a lease extension in Mill Hill. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to assess the amount due.
An example of a Lease Extension matter before the tribunal for a Mill Hill flat is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case related to 1 flat. The unexpired term was 71.73 years.