We wanted to use a property lawyer in Bow for our home move. Our financial adviser informed us that our bank Chelsea Building Society won't deal with them. Surely this is unfair competition?
Before the recession most banks had a different appetite for risk. Almost all Bow conveyancing firms would have been on many lender panels. The FSA in 2010 carried out a thematic review into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms regarding their operations and their employees and establishing certain criteria such a completing on a minimum amount of conveyancing. Many Bow conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Bow is amongst the many areas where the conveyancers we recommend are members of the panel for Chelsea Building Society.
What does a local search tell me about the house my wife and I buying in Bow?
Bow conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for example Xpress Legal The local search is essential in every Bow conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your new home. The search should reveal information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
My wife and I own a 4 bedroom Edwardian house in Bow. Conveyancing practitioner acted for me and Accord Mortgages Ltd. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold under the exact same address. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bow and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing solicitor who conducted the conveyancing.
I am one month into a freehold purchase having been directed to a firm by the high street agent to perform conveyancing in Bow. I am am very disappointed with the quality of service. Could you you assist me in finding new conveyancers?
They would need to be very poor to suggest diss instructing them. Has your loan offer been issued? If so you need to advise them of the replacement lawyer and have the offer are re-issued. Your new solicitor ideally should be on the banks panel to avoid escalating expenses and frustration. That should be your starting point. The find a solicitor tool should assist you in finding a bank approved lawyer for your conveyancing in Bow
What are your top tips when it comes to choosing a Bow conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Bow conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Bow conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be helpful:
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How many lease extensions have they completed in Bow in the last 12 months?
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Bow conveyancing firm to assist?
Most certainly. We can put you in touch with a Bow conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Bow flat is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.
My hope is to acquire a garden flat in Bow. Conveyancing solicitor is waiting for, from the vendor, building insurance paperwork. This afternoon I was advised that the vendor needs to send the insurance paperwork for the flat above in addition. Why does my conveyancer need to review the insurance for the flat above? Is it strictly required? We have been stalled for the last month…
It is not unheard of in leasehold conveyancing in Bow to discover Conveyancing in Bow in a minority of cases reveals that the lease provides for the tenant's to insure their individual flats rather than the freeholder insuring the entire building - which is clearly better. You should check with your conveyancing practitioner but it would appear that your solicitor is attempting to verify that the entire building is insured. Insuring your residence is no help when it comes to rebuilding after a fire if the other flat cannot be rebuilt as a result of lack of insurance cover.