My husband and I are hoping to buy a 2 bedroom flat in Clerkenwell with a mortgage. We like our Clerkenwell conveyancer, however the mortgage company says he's not on their "panel". It seems we have little option but to appoint one of the mortgage company panel firms or keep our Clerkenwell solicitor as well as pay for one of their panel lawyers to represent them. This feels very unfair; are we not able to demand that the bank use our Clerkenwell property lawyer ?
No, not really. Your mortgage offer 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 Clerkenwell conveyancing solicitor to apply to be on the conveyancing panel.
Are the BSA intent on creating a searchable register to to identify firms on the Coventry BS conveyancing panel for example in Clerkenwell?
We are not aware of any plans on the part of the BSA to promote such a register.
Will our solicitor be making enquiries concerning flooding during the conveyancing in Clerkenwell.
Flooding is a growing risk for conveyancers dealing with homes in Clerkenwell. There are those who buy a property in Clerkenwell, completely 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 get a mortgage, satisfactory building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, however there are a various checks that may be carried out by the purchaser or on a buyer’s behalf which will figure out the risks in Clerkenwell. The conventional set of property information forms given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to find out whether the premises has ever been flooded. If the premises has been flooded in past and is not disclosed by the vendor, then a purchaser could issue a claim for damages stemming from an misleading response. A purchaser’s solicitors will also order an enviro report. This will disclose whether there is any known flood risk. If so, additional investigations will need to be made.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Clerkenwell is the location of the property. What do you suggest?
Flying freeholds in Clerkenwell are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Clerkenwell you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Clerkenwell may ascertain 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 residence.
What are your top tips when it comes to appointing a Clerkenwell conveyancing practice to deal with our lease extension?
When appointing a solicitor for your lease extension (regardless if they are a Clerkenwell conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Clerkenwell conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
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What are the legal fees for lease extension work? If they are not ALEP accredited then why not?
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Clerkenwell conveyancing firm to act on my behalf?
Most certainly. We can put you in touch with a Clerkenwell conveyancing firm who can help.
An example of a Lease Extension decision for a Clerkenwell flat is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The unexpired term was 66.8 years.
My lender have just issued us with a mortgage offer. We appointed a high street conveyancer in Clerkenwell two days ago. This morning, our mortgage adviser called to say that the lender said that we cannot use our solicitor as they aren't on their panel. As novices, we had no idea that the lender had some control over our choice Is this allowed?
You are permitted to instruct any conveyencer you want to appoint including the said conveyancer in Clerkenwell however if they are not on the your lender's approved list you must fork out an extra fee so the mortgage company can appoint their own conveyancer too. It may be conceivable that your solicitor may apply to get included on to the lender list of approved firms. Do make the most of web-based search facilities such as lenderpanel.com to find a conveyancing solcitor in Clerkenwell on the lender panel. You can go into your high street lender branch in Clerkenwell. They will know some good conveyancing solicitors in Clerkenwell on the approved list.