My partner and I are looking to buy a home in Woodford and have instructed a Woodford conveyancing practice. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Skipton Building Society have this morning contacted us to advise us that there is now an issue as our Woodford conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Woodford solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Finally the sale completed on my house in Woodford last May yet the purchaser is SMS messaging daily complaining that her conveyancer needs to hear from mylawyer. What are the post completion sale legalities now that I have sold?
Post completion of your sale your conveyancer is obliged to send the transfer documentation and all additional paperwork to the buyer’s solicitors. Where relevant, your lawyer should also send confirmation that the legal charge in favour of the lender has been redeemed to the purchasers solicitors. There are no post completion tasks specific conveyancing in Woodford.
A colleague advised me that if I am buying in Woodford I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Woodford conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Woodford around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information concerning Woodford.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what should have been a quick, no chain conveyancing. Woodford is where the house is located. Can you offer any guidance?
Flying freeholds in Woodford are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Woodford you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woodford may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am using a search engine for the phrase cheap conveyancing in Woodford it reveals numerous conveyancersin the area. With so much choice what is the best way to find the suitable conveyancing solicitor for me?
The ideal way of choosing a suitable conveyancer is through a personal testimonial, so enquire of friends and relatives who have bought a property in Woodford or the respected estate agent or mortgage broker. Charges for conveyancing in Woodford differ, so it's advisable to request at least four fee estimates from different conveyancers. Dont forget to clarify that the fees are fixed.
Expecting to exchange soon on a studio apartment in Woodford. Conveyancing solicitors have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Woodford should include some of the following:
Setting out your rights in respect of common areas in the block.For example, does the lease provide for a right of way over an accessway or staircase? Does the lease prevent you from subletting the flat, or working from home The length of the lease term. You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark What options are open to you if another leaseholder in the building is in violation of a provision in their lease?
I have had difficulty in trying to purchase the freehold in Woodford. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Woodford premises is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case related to 2 flats. The unexpired lease term was 69.26 years.