My wife and I are planning to acquire a 1 bedroom flat in Thornton with a mortgage. We have a Thornton solicitor, however the mortgage company says she’s not on their "panel". We have to appoint one of the bank panel firms or keep our Thornton conveyancer and pay for one of their panel ones to act for them. We feel that this is inequitable; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders 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. Another option that might be available is for your Thornton conveyancing lawyer to apply to be on the conveyancing panel.
In scouring mumsnet.com for an online solicitor in Thornton, most advise that I must use a CQS kitemarked lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home moving process, trusted by some of the UK's biggest lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). CQS is not a scheme offered by the Council of Licensed Conveyancing. Thornton is one of the many areas of the UK where there are Accredited lawyers.
My wife and I purchased a renovated Victorian property in Thornton. Conveyancing practitioner represented me and Nationwide Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Thornton and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing practitioner who carried out the work.
I am looking for a flat up to £235,500 and found one round the corner in Thornton I like with amenity areas and railway links in the vicinity, the downside is that it only has 51 years unexpired on the lease. There is not much else in Thornton suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage that many years may be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
I am downsizing from my home. My former lawyers closed down. I am in need of a recommendation of a conveyancing firm. Im based in Thornton if that makes things easier.
Please use our search tool to help you choose a solicitor for your conveyancing in Thornton. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
There are only Fifty years unexpired on my lease in Thornton. I need to extend my lease but my freeholder is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the freeholder. On the whole a specialist would be useful to try and locate and to produce an expert document which can be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Thornton.
Leasehold Conveyancing in Thornton - A selection of Queries Prior to buying
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Are any of leasehold owners in arrears of their service charge liability? Does the lease include onerous restrictions? Its a good idea to find out as much as possible concerning the company managing the block as they can either make life much easier or uncomfortable. As the owner of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to every day issues like the cleanliness of the communal areas. Enquire of other tenants whether they are happy with their service. On a final note, be sure you understand the dates that the service fees are due to the managing agents and precisely how they are spending the funds.