Me and my partner are purchasing a 3 bedroom apartment in North Acton with a mortgage. We have a North Acton solicitor, however the bank says he's not on their "panel". It appears that we have no choice but to instruct one of the bank panel firms or keep our North Acton solicitor as well as pay for one of their panel firms to represent them. We regard this is unjust; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your North Acton conveyancing solicitor to apply to be on the conveyancing panel.
We see that you have a post code search directory listing law firms on the Virgin Money conveyancing panel. Do companies pay you a commission if I instruct them for our own conveyancing in North Acton?
We are a listing service only for law firms wishing to communicate if they are on the Virgin Money conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in North Acton.
My aunt pointed out to me me that in buying a property in North Acton there may be a number of restrictions as to what one can do in terms of external alterations to the property. Is this right?
There are a number of properties in North Acton which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in North Acton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my North Acton building society branch on numerous occasions and was told it wasn't an issue and they will lend. My North Acton conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend in accordance with their published requirements. Who do I believe?
Your conveyancing practitioner must comply with the CML Handbook section two specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the bank 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 lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am due to exchange contracts on my apartment. I had a double glazing fitted in December 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Clydesdale are being a right pain. The North Acton solicitor who is on the Clydesdale conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How simple is it to use the search tool to locate a conveyancing solicitor in North Acton on the authorised to act for my bank?
Step one is to choose a bank such as Santander, Bank of Scotland or Britannia then choose your preferred area such as North Acton. Conveyancing practices in North Acton and further afield should be listed.
What are your top tips when it comes to finding a North Acton conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a North Acton conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non North Acton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be helpful:
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If they are not ALEP accredited then why not? What are the costs for lease extension work?
I am the leaseholder of a basement flat in North Acton. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?
Absolutely. We can put you in touch with a North Acton conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a North Acton property is 49 Long Drive in March 2014. The tribunal concluded that the price payable for the freehold interest in the Property should be £26,491 divided as to £12,546 in respect of the ground floor flat and £13,945 in respect of the first floor flat This case related to 2 flats. The unexpired term as at the valuation date was 68.47 years.
Developers have put forward a lawyer and I've obtained a quote from them. They are nearly three hundred pounds less expensive than my own North Acton conveyancing practitioner. What's the catch?
Housebuilders frequently have lists of solicitors who expedite matters and who know the builder's paperwork and solicitor. Plenty of developers offer an incentive to choose a preferred solicitor for this reason, any increased charges can be avoided and a builder won't put forward a conveyancing warehouse and run the risk of having the conveyancing delayed when they want exchange within a tight deadline. A counter-argument for not opting for the recommended lawyer is that they may be hesitant to fight for your interests for fear of alienating the developer. If you worry that this may be the situation you should stick with your high street North Acton conveyancing practitioner.