Me and my partner are planning to purchase a 1 bedroom flat in Bush Hill Park with a mortgage. We would like to retain our Bush Hill Park solicitor, but the lender advise he's not on their "panel". It seems we have little choice but to use one of the lender panel firms or keep our Bush Hill Park solicitor and pay for one of their panel firms to act for them. We consider that this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Bush Hill Park conveyancing solicitor to apply to be on the conveyancing panel.
As someone not used to conveyancing in Bush Hill Park what is your top tip you can impart for the house moving process in Bush Hill Park
Not many law firms shout this from the rooftops but conveyancing in Bush Hill Park or throughout England and Wales is an adversarial experience. In other words, when it comes to conveyancing there exists an abundance of room for confrontation between you and others involved in the house moving process. For instance, the seller, property agent and even potentially your lender. Appointing a solicitor for your conveyancing in Bush Hill Park an important selection as your conveyancer is your adviser, and is the ONLY party in the process whose interest is to act in your best interests and to keep you safe.
Sometimes a potential adversary will attempt to persuade you that you should follow their advice. As an example, the selling agent may claim to be assisting by claiming that your solicitor is slow. Or your mortgage broker may tell you to do take action that is contrary to your conveyancers advice. You should always trust your lawyer above all other parties in the conveyancing process.
The deeds to my house are lost. The lawyers who did the conveyancing in Bush Hill Park 10 years ago have long since closed. Will I be able to sell the house?
Nowadays there are duplicates made of almost everything, and your solicitor should know exactly where to locate all the relevant paperwork so you may purchase or sell your house without a hitch. Where duplicates are not available, your lawyer may be able to put in place insurance or indemnities against possible claims on your premises.
Due to the input of my in-laws I had a survey completed on a property in Bush Hill Park before appointing lawyers. I have been told that there is a flying freehold element to the house. The surveyor advised that some mortgage companies tend not give a loan on this type of property.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. If you e-mail us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bush Hill Park. Conveyancing will be smoother if you use a solicitor in Bush Hill Park especially if they are accustomed to such properties in Bush Hill Park.
Am I right to be suspicious by brokers that I am dealing with are recommending a factory type conveyancing firm as opposed to a High Street Bush Hill Park conveyancing practice?
As is the case with lots of professional services, often referrals from family and friends can be worth their weight in gold. Nevertheless there are many parties with a keen interest in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may put forward lawyers to choose. On occasion these conveyancers might be known to one of the organisations as experts in their field, but occasionally there may be a financial incentive behind the recommendation. You are free to choose your preferred lawyer. However, bear in mind that some lenders operate an approved list of law firms you are obliged to use for the lender aspect of your transaction.
Do you have any top tips for leasehold conveyancing in Bush Hill Park with the aim of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Bush Hill Park can be bypassed if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the buyers’ conveyancers. If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Organising a re-issued share certificate can be a lengthy formality and slows down many a Bush Hill Park home move. If a duplicate share is needed, do contact the company officers or managing agents (if applicable) for this as soon as possible. You believe that you know the number of years remaining on your lease but it would be wise to double-check via your conveyancers. A buyer’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 early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. Some Bush Hill Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
I am the proprietor of a ground-floor 1950’s flat in Bush Hill Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Bush Hill Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Bush Hill Park residence 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 related to 1 flat. The unexpired term was 81.79 years.