Me and my partner are buying a 1 bedroom apartment in Woodford Green with a mortgage. We like our Woodford Green solicitor, but the mortgage company advise she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or retain our Woodford Green lawyer as well as pay for one of their panel ones to act for them. We consider that this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you 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 Woodford Green conveyancing lawyer to apply to be on the conveyancing panel.
is it true that all Woodford Green solicitor practices on the Leeds Building Society conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be governed by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such organisation would be regulated by the Council of Licensed Conveyancers.
My partner and I are in the process of viewing apartments in Woodford Green and I am now considering a potential offer. Should I already have a conveyancing practitioner appointed at this stage? I am planning to take a mortgage with Lloyds.
It would be advisable to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are getting a mortgage with Lloyds, make sure you remember to check that your lawyer is on the Lloyds conveyancing panel.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Woodford Green property lawyer on the UBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
Are there restrictive covenants that are commonly identified during conveyancing in Woodford Green?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Woodford Green. 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…’
Just had an offer accepted on a new build flat in Woodford Green. Conveyancing is necessary evil 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 legal work.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Woodford Green
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Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I decided to have a survey carried out on a property in Woodford Green in advance of retaining lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some banks will refuse to grant a loan on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Woodford Green. Conveyancing may be slightly more expensive based on your lender's requirements.
Am I best advised to use a Woodford Green conveyancing lawyer based in the area that I am hoping to buy? We have a good friend who can carry out the legal work but her office is approximately 350kilometers away.
The primary upside of using a high street Woodford Green conveyancing practice is that you can drop in to execute paperwork, present your ID and apply pressure on them if necessary. Having local Woodford Green know how is a benefit. However it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and in the main were impressed that must trump using an unfamiliar Woodford Green conveyancing lawyer just because they are round the corner.