I am 4 weeks into the sale of my ground floor flat in Woodside Park and the EA has just telephoned to advise that the buyers are changing their law firm. I am told that this is due to the fact that the mortgage company will only work with solicitors on their approved list. Why would a major lender only deal with certain solicitors rather the firm that they want to select for their conveyancing in Woodside Park ?
UK lenders have always had an approved set of law firms they are content to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Mortgage companies point to the increase in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices 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 purchasers are not going to have any impact on this.
Do the conveyancing lawyers listed on your site conduct right to buy conveyancing in Woodside Park?
We do have numerous conveyancing lawyers carrying out right to buy conveyancing You should contact the solicitors listed with a view to secure a costs illustration.
My colleague recommended that if I am buying in Woodside Park I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Woodside Park conveyancing searches. It is a large report of more than thirty pages, listing and detailing significant information about Woodside Park around the property and the people living there. It includes 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, Woodside Park Education with maps and statistics, Local Amenities and other useful information concerning Woodside Park.
I purchased my apartment on 12 May and my personal details is not yet registered. Need I be worried? My conveyancing solicitor in Woodside Park said it should be formalised in less than a month. Are titles in Woodside Park particularly slow to register?
There is nothing unique when it comes to conveyancing in Woodside Park registration formalities. Rather than based on location, timeframes can differ subject to the party submitting the application, whether it is in order and whether the Land registry need to notify any third parties. At present in the region of 80% of submission are completed within 12 days but some can be subject to protracted hold-ups. Historically registration occurs once the purchaser is living at the premises so post completion formalities is not typically an essential issue yet if there is a degree of urgency associated with the registration then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Woodside Park is where the house is located. What do you suggest?
Flying freeholds in Woodside Park are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Woodside Park you would need to get your solicitor to go 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 Woodside Park 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 residence.
Can you provide any advice for leasehold conveyancing in Woodside Park with the aim of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Woodside Park can be bypassed where you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers’ conveyancers. You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is less than 80 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Obtaining a replacement share certificate can be a lengthy process and delays many a Woodside Park home move. If a duplicate share is needed, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible. Many freeholders or managing agents in Woodside Park levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Woodside Park.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Woodside Park conveyancing firm to assist?
Most definitely. We are happy to put you in touch with a Woodside Park conveyancing firm who can help.
An example of a Lease Extension decision for a Woodside Park residence is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The number of years remaining on the existing lease(s) was 76 years.