The Bedford Park conveyancing firm handling our Bedford Park conveyancing has spotted a discrepancy when comparing the surveyor’s assumptions in the valuation report and what is revealed within the conveyancing documents. My solicitor says that he is obliged to check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s approach correct?
Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
When will exchange of contracts take place for domestic conveyancing in Bedford Park and do I need to attend the lawyers branch?
If you are in close proximity to our conveyancing solicitors in Bedford Park you are invited in to sign contracts. That being said, the firms we work with offer countrywide coverage for conveyancing and give as equally detailed and professional a job for you when communicating with you by post or email. The signing of the purchase agreement is not when everything is set in stone. A signed contract is just a prerequisite for the solicitor to officially exchange when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Bedford Park)to be in the office available at the end of the phone to exchange contracts.
We're in Bedford Park, First time buyers purchasing with a mortgage (lender is Clydesdale , and our solicitor is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Is it the case that all Bedford Park CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing panel?
Some major lenders now make use of CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
When it comes to mortgage companies such as Leeds Building Society, do Bedford Park solicitors have to pay a yearly amount to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
We are getting the release of further funds on our mortgage from Bank of Ireland as we intend to conduct a loft conversion to our home in Bedford Park. Are we obliged to select a nearby Bedford Park solicitor on the Bank of Ireland conveyancing panel to deal with the paperwork?
Bank of Ireland do not ordinarily instruct firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Bank of Ireland conveyancing panel.
How straightforward is it to use your search facility to locate a conveyancing lawyer in Bedford Park on the approved list for my mortgage?
First select a mortgage company such as Birmingham Midshires, The Mortgage Works or Godiva Mortgages Ltd then choose your location such as Bedford Park. Conveyancing firms in Bedford Park and nationally should be listed.
Last March I purchased a leasehold flat in Bedford Park. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have had difficulty in trying to purchase the freehold in Bedford Park. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We are happy to put you in touch with a Bedford Park conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Bedford Park flat is 169 Southfield Road in September 2013. the tribunal decided that the premium to be paid in respect of the collective enfranchisement should be £51,203 This case was in relation to 2 flats. The unexpired term as at the valuation date was 64.64 years.