I am nearing exchange of contracts for my house in Blackfriars and the EA has just e-mailed to advise that the buyers are changing their law firm. I am told that this is due to the fact that the bank will only engage with solicitors on their conveyancing panel. On what basis would a leading mortgage company only work with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Blackfriars ?
Mortgage companies have always had panels of law firms they are content to work with, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Mortgage companies point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to monitor. No lender will say 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. Plenty of firms 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. The purchasers are unlikely to have any sway in the decision.
We are purchasing a flat in Blackfriars. I might seem paranoid but how we can trust a conveyancer? On completion day we have to deposit money into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
When it comes to lenders such as Nottingham, do Blackfriars lawyers incur an annual charge to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I am purchasing a property in Blackfriars. A rare aspect is that the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is HSBC your lawyer must follow the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for HSBC. The Council of Mortgage Lenders’ Handbook sets out minimum specifications for solar panel roof-space leases, and lawyers are required to report to HSBC where a lease fails to comply with these specifications. The conditions relate to the installation of panels on properties nationwide and is not restricted to Blackfriars.
I bought my home on 4 April and my personal details are still not registered. Should I be concerned? My conveyancing solicitor in Blackfriars expressed confidence that it should be registered in a couple of weeks. Are properties in Blackfriars particularly slow to register?
As far as conveyancing in Blackfriars registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can differ depending on who lodges the application, whether it is in order and if the Land registry need to notify any other persons or bodies. Currently in the region of 80% of submission are fully addressed in less than three weeks but some can be subject to longer delays. Registration is effected after the buyer is living at the property thus an expedited registration is not usually primary concern yet if it is urgent that the the registration takes place urgently then you or your solicitor could speak with the land registry and explain the circumstances.
I am buying a new build flat in Blackfriars. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Blackfriars
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are architect prepared.
In scouring the web for the words cheap conveyancing in Blackfriars it reveals numerous property lawyerslocally. With so much choice what is the best way to find the suitable solicitor for my move?
The best way of finding the right conveyancer is through a trusted recommendation, so ask friends and those you trust who have purchased a property in Blackfriars or the local estate agent or mortgage broker. Costs for conveyancing in Blackfriars vary, so it's sensible to secure a minimum of three fee calculations from different companies. Make sure that you clarify what costs in the quote includes.
I've recently bought a leasehold house in Blackfriars. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
After months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Blackfriars. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a absentee landlord or if there is disagreement 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 amount due.
An example of a Lease Extension decision for a Blackfriars flat is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The unexpired lease term was 66.8 years.