Are the Pentonville conveyancing solicitors identified as being on the Aldermore conveyancing panel, together with their details provided by Aldermore?
Pentonville conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.
we are a couple who intend to purchase a 2 bedroom apartment in Pentonville with a residential mortgage from Platform Home Loans Ltd.We would like to retain our Pentonville conveyancing lawyer but Platform Home Loans Ltd informed us her practice is not listed on their approved list of firms. It seems we are left with little choice but to instruct a Platform Home Loans Ltd panel lawyer or keep our preferred solicitor and pay for a Platform Home Loans Ltd panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The home loan issued to you contains various provisions, one of which will be that conveyancers will be on the Platform Home Loans Ltd approved list. Until recently, most lenders had large numbers of solicitors 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
Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in Pentonville. Do I receive the keys to the house on completion from my conveyancer? If this is the case, I will use a High Street conveyancing solicitor in Pentonville?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the completion advance to the owner’s conveyancers, and once they have received this, you will be able to receive the keys from the Estate Agents and start moving into the property. Usually this occurs early afternoon.
Is it the case that all Pentonville CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing list of approved practices?
It is true that some lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
After shopping around on the internet I have found a Pentonville conveyancer having made sure that they are on the HSBC conveyancing panel. Does my lawyer arrange the survey of the property?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Pentonville surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I decided to have a survey carried out on a house in Pentonville ahead of instructing solicitors. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some lenders may not grant a loan on such a property.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. If you e-mail us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Pentonville. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Pentonville to see if the conveyancing costs will increase in light of this.
Am I best advised to choose a Pentonville conveyancing practitioner based in the area that I am purchasing? An old friend can deal with the legal work however his firm is located over three hundred miles away.
The benefit of a high street Pentonville conveyancing firm is that you can attend the office to sign documents, hand in your identification documents and pester them where appropriate. They will also have local knowledge which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and the majority were happy that must trump using an unknown Pentonville conveyancing solicitor solely due to them being round the corner.
I work for a reputable estate agency in Pentonville where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Pentonville conveyancing firms. Could you clarify whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the proprietor of a a ground floor purpose built flat in Pentonville. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
if there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to determine the premium.
An example of a Lease Extension case for a Pentonville residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The remaining number of years on the lease was 66.8 years.