Am I correct in assuming that the fact that my conveyancer in Osterley is not identified on my lender's solicitor panel that there is a problem with the quality of her work?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Osterley conveyancing practice and ask them why they are no longer on the approved list for your lender.
We see that you have a search directory listing solicitors on the Kent Reliance conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Osterley?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Osterley.
we are a couple who are buying a newly converted flat in Osterley with a residential mortgage from Platform Home Loans Ltd.We have a Osterley conveyancing solicitor but Platform Home Loans Ltd advised that she’s not on their approved list of member firms. It seems we have no choice but to instruct a Platform Home Loans Ltd panel lawyer or retain our high street solicitor and fork out for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Platform Home Loans Ltd use our lawyer?
No, not really. The home loan issued to you is subject to its various provisions, one of which will be that conveyancers will be on the Platform Home Loans Ltd solicitor panel. in the past, most banks 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 solicitors to apply to be on the conveyancing panel for Platform Home Loans Ltd
I have been told that property searches are a common cause of stalling in Osterley house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Local searches are unlikely to feature in any holding up conveyancing in Osterley.
I'm remortgaging my current house to a BTL mortgage with The Mortgage Works and I will use the ballance of the raised equity as a deposit on a second property. The area we are interested in is Osterley. Will your lawyers be able to act for both sets of mortgage companies and link together the two deals?
Make use of our comparison tool on this page to check that the solicitors are on the relevant lender panels. On the basis that they are your lawyer will be able to tie up the two transactions but you should have a chat with you conveyancer and communicate your expectations and requirements.
I am looking at a two apartments in Osterley which have in the region of fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease reduces and it becomes more expensive to extend the lease. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Osterley conveyancing firm to help?
if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to make a decision on the price.
An example of a Lease Extension case for a Osterley premises is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case related to 1 flat. The remaining number of years on the lease was 60.45 years.