My conveyancer has informed me that defective lease insurance is necessary on my purchase. What is the level of cover for Parsons Green conveyancing?
The appropriate level of defective lease indemnity insurance should be dictated by who who your lender is. It would differ for example between Nationwide Building Society and The Mortgage Works. Conveyancing lawyers as opposed to borrowers take out such policies.
We are getting the release of further funds on our home loan from Coventry BS as we intend to carry out a loft conversion to our house in Parsons Green. Do we need to appoint a high street Parsons Green solicitor on the Coventry BS conveyancing panel to handle the paperwork?
Coventry BS don't usually require a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS panel.
I am selling my house. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Kent Reliance are being difficult. The Parsons Green solicitor who is on the Kent Reliance conveyancing panel is saying indemnity insurance will be fine but Kent Reliance are requiring a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance 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.
Various web forums that I have come across warn that are the primary cause of stalling in Parsons Green conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Parsons Green.
I used Action Conveyancing several years past for my conveyancing in Parsons Green. Now, I need my files however the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Parsons Green of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I opted to have a survey completed on a house in Parsons Green prior to retaining solicitors. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some mortgage companies tend refuse to grant a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. If you call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Parsons Green. Conveyancing will be smoother if you use a solicitor in Parsons Green especially if they regularly deal with such properties in Parsons Green.
Notwithstanding our best efforts, we have been unsuccessful in trying to purchase the freehold in Parsons Green. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Parsons Green conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Parsons Green residence is 66 and 66a Wardo Avenue in November 2012. The Tribunal determined that the sum of £8,048 is payable by the Applicants in respect of the price for the freehold of the property This case related to 2 flats. The unexpired lease term was 93 years and 162 years.
What makes a Parsons Green lease unmortgageable?
There is nothing unique about leasehold conveyancing in Parsons Green. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:
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A provision for the recovery of money spent for the benefit of another party.
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Coventry Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.
My mortgage broker has suggested using their lawyer for my conveyancing in Parsons Green - Is it not simpler better to just use them?
It is not always the case and you are at liberty to opt for whichever conveyancer of your choosing for your Parsons Green conveyancing. The conveyancer put forward by a 3rd party adviser may not necessarily be the right solicitor, they may put forward their preferred conveyancing firm who are based far away. In this instance you may not have contact with your conveyancer and due to the lack of continuity in the transaction, it may be difficult to obtain updates.