Me and my fiance are purchasing a 3 bedroom flat in Cricklewood with a mortgage. We like our Cricklewood conveyancer, however the bank says she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Cricklewood lawyer as well as pay for one of their panel lawyers to represent them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. 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. A further alternative is for your Cricklewood conveyancing lawyer to apply to be on the conveyancing panel.
I am considering mortgaging my apartment in Cricklewood, does my lawyer have to be on the Barclays Solicitor panel?
There is nothing to stop you using your solicitor, but Barclays will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
is it true that all Cricklewood solicitor practices on the Bank of Ireland conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Bank of Ireland conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. The majority of mortgage companies do list licenced conveyancers on their panel in which case such practice would be overseen by the CLC.
After months of negotiation I have agreed a price on a house in Cricklewood. My financial adviser pressured me to appoint their solicitor. I paid an on account payment of £150. Shortly after, the solicitor contacted me embarrassingly acknowledging that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Intending to buy a apartment in Cricklewood. 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 Aldermore 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 Cricklewood conveyancer is on the Aldermore conveyancing panel.
I am looking for a leasehold apartment up to £245,000 and found one close by in Cricklewood I like with open areas and railway links nearby, however it's only got 52 years unexpired on the lease. There is not much else in Cricklewood for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage that many years will likely be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
My husband and I are new on the property ladder - had an offer accepted, yet the estate agent informed us that the owners will only go ahead if we use their chosen lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a family conveyancer with experience of conveyancing in Cricklewood
We suspect that the seller is unaware of this requirement. If they desire ‘a quick sale', alienating a genuine buyer is is going to put the whole deal at risk. Try to communicate with the sellers directly and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you will continue to use your own,trusted Cricklewood conveyancing solicitors - rather thanthose that will provide the estate agent a introducer fee or achieve conveyancing targets pre-set by HQ.
I am attracted to a two flats in Cricklewood which have approximately fifty years left on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Cricklewood conveyancing firm to represent me?
Where there is a absentee freeholder or if 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 Leasehold Valuation Tribunal to make a decision on the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Cricklewood premises is 73 and 73a St. Pauls Avenue in October 2013. the Tribunal held in accordance with section32 and Schedule 6 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the enfranchisement was fifty three thousand three hundred and sixty one pounds (£53,361.00) This case was in relation to 2 flats. The unexpired term was 64.61 and 67.18.