I sincerely hope you can assist me. My Chase Cross conveyancer is advising me that she is duty bound toconduct Chase Cross conveyancing searches becausethe firm are on the HSBCapproved lawyer panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. As you are taking a home loan with a bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Chase Cross conveyancing searches.
We previously appointed solicitors located in Chase Cross on the Nationwide solicitor panel. They are now charging me a further amount for handling the Nationwide mortgage. Is this an additional conveyancing fee specified by Nationwide?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your conveyancing practitioner is entitled to charge a fee for this. The charge is not set by Nationwide but by your Chase Cross lawyer. Numerous firms on the Nationwide panel will quote an ‘acting for lender’ fee but many practices incorporate it on their overall fee.
About to purchase flat in Chase Cross. 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 Nottingham 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 Chase Cross conveyancing practitioner is on the Nottingham conveyancing panel.
HSBC have agreed my mortgage in principle, my bid on a flat in Chase Cross has been agreed to, what are the next steps?
Your property agent will wish to be advised as to your property lawyer's details (ensure that the lawyers are on the lender’s panel). Contact HSBC or your financial adviser and finalise any appropriate documentation. HSBC will appoint a valuer who will get in touch with the selling agent or vendor to schedule a slot for the valuation to occur. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. HSBC will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Chase Cross.
Various internet forums that I have come across warn that are the primary reason for stalling in Chase Cross house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Searches are not likely to feature in any delay in conveyancing in Chase Cross.
Are there restrictive covenants that are commonly picked up during conveyancing in Chase Cross?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Chase Cross. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Given that I will soon part with 450k on a terraced house in Chase Cross I would like to talk to a conveyancer concerning thehome move in advance of instructing the firm. Can this be arranged?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you speaking to the lawyer due to be conducting your conveyancing in Chase Cross.There is no ‘factory style conveyancing’ - each client is an important individual, not a matter number. The solicitors that we put you in touch with believe that the figure you are quoted for residential conveyancing in Chase Cross should be the figure that you end up paying.
I work for a busy estate agent office in Chase Cross where we have experienced a few leasehold sales derailed due to short leases. I have been given conflicting advice from local Chase Cross conveyancing solicitors. Could you clarify whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that 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 can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.
Following months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Chase Cross. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We can put you in touch with a Chase Cross conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Chase Cross flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired term as at the valuation date was 57.5 years.