When it comes to lenders such as Skipton, do Bounds Green property lawyers have to pay a yearly amount to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I am due to exchange contracts on my flat. I had a double glazing fitted in May 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Virgin Money are being problematic. The Bounds Green solicitor who is on the Virgin Money conveyancing panel is saying indemnity insurance will be fine but Virgin Money are requiring a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase apartment in Bounds Green. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nationwide conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bounds Green conveyancing practitioner is on the Nationwide conveyancing panel.
Will my lawyer be raising enquiries about flooding as part of the conveyancing in Bounds Green.
Flooding is a growing risk for solicitors conducting conveyancing in Bounds Green. Some people will buy a house in Bounds Green, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, but there are a number of searches that may be initiated by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in Bounds Green. The conventional set of information given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a standard question of the vendor to determine whether the property has suffered from flooding. In the event that flooding has previously occurred and is not disclosed by the seller, then a buyer could commence a claim for damages resulting from an incorrect answer. A buyer’s lawyers should also carry out an enviro report. This should indicate if there is any known flood risk. If so, more detailed inquiries will need to be conducted.
Have purchased a a detached house in Bounds Green , What is the estimated time for the Land Registry to record my proprietorship? My Bounds Green conveyancing solicitor works at snail pace, so I want to be sure the land registry aspects are concluded.
As far as conveyancing in Bounds Green registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can vary subject to the party submitting the application, whether it is in order and whether the Land registry need to notify any 3rd parties. At present in the region of three quarters of submission are fully addressed within 12 days but occasionally there can be longer delays. Registration occurs once the buyer has moved in to the premises so 'speed' is not usually an essential issue yet where 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.
How easy is it to use your search tool to find a conveyancing solicitor in Bounds Green on the panel for my lender?
First pick a lender such as Halifax, Chelsea Building Society or Clydesdale then type in your location for example Bounds Green. Conveyancing practices in Bounds Green and across England and Wales should be identified.
I am employed by a busy estate agency in Bounds Green where we have witnessed a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Bounds Green conveyancing solicitors. Can you clarify whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Bounds Green conveyancing firm to represent me?
Most definitely. We are happy to put you in touch with a Bounds Green conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Bounds Green premises is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case was in relation to 1 flat. The unexpired term as at the valuation date was 81.79 years.
Is there an average legal costs for conveyancing in Bounds Green?
The average cost last year for conveyancing in Bounds Green was £1,395 not including SDLT and Land Registry fees.