My wife and I are planning to acquire a flat in Charing Cross and are in fact using a Charing Cross conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Nottingham Building Society have this afternoon contacted us to inform me that they have now hit a problem as our Charing Cross conveyancer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is conventional for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Charing Cross solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
My Charing Cross lawyer has identified an inconsistency between the surveyor’s assumptions in the valuation survey and what is in the legal papers for the property. My solicitor says that he is obliged to ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s approach appropriate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications 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.
Should commercial conveyancing searches reveal planned roadworks that could impact a commercial premises in Charing Cross?
Its becoming the norm that commercial conveyancing solicitors in Charing Cross will carry out a SiteSolutions Highways report as it reduces the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Charing Cross. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Charing Cross.
For each commercial conveyancing transaction in Charing Cross it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may cause delays to Charing Cross commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Charing Cross.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Charing Cross is the location of the property. Is there any advice you can give?
Flying freeholds in Charing Cross are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Charing Cross you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Charing Cross may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I own a leasehold flat in Charing Cross. Conveyancing and Halifax mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Charing Cross who acted for me is not around. What should I do?
The first thing you should do is contact HMLR to make sure that this person is indeed the new freeholder. There is no need to instruct a Charing Cross conveyancing practitioner to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
After months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Charing Cross. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the premium.
An example of a Freehold Enfranchisement decision for a Charing Cross flat is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 73.26 years.
We are thinking of choosing a web based conveyancing practitioner as opposed to a Charing Cross conveyancing practice. Any advice?
Various benefits exist in being able to attend a local Charing Cross conveyancing solicitor for example
- signing papers on short notice
- often being able to speak to someone face-to-face can make a huge difference, particularly for non-standard transactions
- the ability to raise concerns if things need to addressed
When checking fees, look out for hidden extras. The majority decent Charing Cross high street solicitors give an all-inclusive price. Often online companies appear to offer cheap prices, yet have hidden 'extras' in the fine print.