I am not well enough to travel far from Coney Hall. Can you please clarify why all Coney Hall lawyers aren't automatically on all mortgage company panels?
Even though it may seem unfair for lenders to limit who can act for them, from the public’s or conveyancer’s viewpoint, the other side of the coin is that mortgage companies are becoming ever more anxious and consider it vital to defend themselves against mortgage fraud. As a result of this concern mortgage companies are limiting their conveyancing panel to a size that they are happy to control.
When reviewing consumer advice sites for a cheap solicitor in Coney Hall, most comment that I should look for a CQS kitemarked lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home ownership transfers, trusted by some of the UK's major banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). The scheme does not cover licenced conveyancers. Coney Hall is one of the numerous areas of the UK where there are CQS solicitors.
Me and my partner are purchasing a house in Coney Hall. I might seem paranoid but how we can trust a lawyer? At some point we have to put our life savings into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My husband and I have arranged the release of further funds on our mortgage from Virgin Money as we want to conduct alterations to our house in Coney Hall. Are we obliged to choose a bricks and mortar Coney Hall solicitor on the Virgin Money conveyancing panel to handle the paperwork?
Virgin Money don't usually appoint a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money panel.
Having digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Coney Hall solicitor - who is on the Co-operative conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Coney Hall postcode. As you are getting a mortgage with Co-operative, you could contact them to see if they have a list of approved surveyors in Coney Hall.
How does conveyancing in Coney Hall differ for newly converted properties?
Most buyers of new build or newly converted property in Coney Hall come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is finished. This is because house builders in Coney Hall usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Coney Hall or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a simple, no chain conveyancing. Coney Hall is the location of the property. Can you shed any light on this issue?
Flying freeholds in Coney Hall are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Coney Hall you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Coney Hall may decide 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 property.
Can you provide any top tips for leasehold conveyancing in Coney Hall from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Coney Hall can be bypassed if you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers’ representatives. You believe that you know the number of years left on your lease but it would be advisable verify this via your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to ongoing. If you are supposed to have a share in the Management Company, you should ensure that you have the original share certificate. Arranging a re-issued share certificate is often a time consuming formality and delays many a Coney Hall home move. If a duplicate share is required, you should approach the company officers or managing agents (where applicable) for this as soon as possible.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Coney Hall conveyancing firm to act on my behalf?
in cases where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to determine the sum to be paid.
An example of a Lease Extension case for a Coney Hall property is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 50.57 years.