I am not in a position to travel far from Queensbury. I would like to know the understand why all Queensbury lawyers are not on all mortgage company panels?
Before the recession most lenders demonstrated an approach to risk which is different than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which in summary warned lenders: know the lawyers on your panel. Accordingly, mortgage companies have subsequently looked to extract more data from law firms regarding their operations and the staff who work for them and set certain criteria such as completing a minimum volume of transactions. Many law practices have found themselves excluded from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the criteria of volume of transactions the lenders insisted on.
I am currently in the process of buying my council flat in Queensbury. I have a mortgage offer with Aldermore. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
I am due to exchange contracts on my house. I had a double glazing fitted in February 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Lloyds are being pedantic. The Queensbury solicitor who is on the Lloyds conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Lloyds are insisting on a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds 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.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Queensbury solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society 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. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Queensbury postcode. As you are getting a mortgage with Leeds Building Society, you could contact them to see if they have a list of approved surveyors in Queensbury.
Are there restrictive covenants that are commonly identified during conveyancing in Queensbury?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Queensbury. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Queensbury differ for new build properties?
Most buyers of new build premises in Queensbury approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Queensbury tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Queensbury or who has acted in the same development.
Do you have any top tips for leasehold conveyancing in Queensbury from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Queensbury can be avoided if you appoint lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ lawyers. Many landlords or managing agents in Queensbury levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Queensbury. If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Queensbury leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord acquiescing to such works. Where you fail to have the consents in place do not communicate with the landlord without contacting your lawyer first. If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share document. Arranging a new share certificate can be a lengthy process and slows down many a Queensbury home move. If a duplicate share is required, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
Following years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Queensbury. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to determine the sum to be paid.
An example of a Lease Extension decision for a Queensbury property is 20 Orchard Court Stonegrove in June 2009. The tribunal decided that a premium of £11,040 should be payable for the new lease This case related to 1 flat. The unexpired term was 71.55 years.
Been looking for a lawyer for leasehold sale conveyancing in Queensbury. I'm selling, simple no mortgage to pay off, no rush, no onward chain. Got a quote from a solicitor for £1000 excluding VAT which is a little steep given that its so straightforward. Can I pay less for conveyancing in Queensbury?
As it’s a sale only, 475 + VAT should be about the lowest for sale conveyancing in Queensbury.