I am progressing with the sale of my home in Queen's Park and the estate agent has just e-mailed to advise that the purchasers are switching law firm. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their conveyancing panel. On what basis would a major mortgage company only deal with certain lawyers rather the firm that they want to select for their conveyancing in Queen's Park ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Mortgage companies justify this action to a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any impact on this.
My house in Queen's Park is up for sale and I have accepted an offer. Will my conveyancing practitioner need to be required to be on the Principality conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Principality conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
I am buying a new build apartment in Queen's Park. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Queen's Park
-
Please confirm the Lease plans are surveyor prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
How difficult is it to swap solicitor as I have to choose a firm on the Lloyds TSB Bank conveyancing panel. I instructed a local conveyancing solicitor in Queen's Park round the corner but he is not accepted by Lloyds TSB Bank
We will our best to assist in finding you a conveyancing solicitor in Queen's Park on the Lloyds TSB Bank panel. Please note that the property lawyers that we work with do not pay us commission if you instruct them and are under regulation of the SRA who oversee all conveyancing solicitors in Queen's Park. In making use of the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Queen's Park.
I am 3 weeks into a freehold purchase having been directed to a firm by the estate agent to perform conveyancing in Queen's Park. I am not happy. Can you you assist me in finding new conveyancers?
They would have to be really poor in order to consider changing them. Has the loan offer been sent? In the event that it has you will need to advise them of the new contact details and have the offer are re-issued. The solicitor ideally should be on the lenders panel to avoid escalating costs and delays. That should be your starting point. Our find a solicitor tool can help you find a lender approved conveyancer for your conveyancing in Queen's Park
Harry (my fiance) and I may need to let out our Queen's Park basement flat temporarily due to a new job. We instructed a Queen's Park conveyancing practice in 2001 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Queen's Park do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I own a two-bedroom flat in Queen's Park. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
in cases where there is a absentee 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 decide the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a Queen's Park flat is 4 & 4A Charteris Road in June 2009. the Tribunal held that the price to be paid for the enfranchisement of 4/4a Charteris Road to be £15,510 for at 4and £15,694 for at 4a This case was in relation to 2 flats. The unexpired term was 70.02 years.