I can't travel far from Earlsfield. What is the rationale as to why all Earlsfield property lawyers are not on all lender panels?
A decade ago most banks exhibited an attitude to risk which differs from the current day. The financial regulator in 2010 conducted a thematic review into property fraud which in summary warned lenders: know the lawyers on your panel. Accordingly, lenders have subsequently requiredmore data from law firms regarding their processes and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Thousands of law practices have been removed from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the minimum amount of transactions the mortgage companies set.
We are planning to buy with Norwich and Peterborough Building Society. We have called around locally but am struggling to find a Earlsfield conveyancing firm on the Norwich and Peterborough Building Society approved list. Can you help?
Please do make use of the search tool on this web page. Please choose the building society and type Earlsfield or your location and you will be presented with a number of lawyer located in Earlsfield or by proximity to you.
We were going to get a OIP from Clydesdale this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Clydesdale recommend any Earlsfield solicitors on the Clydesdale conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Earlsfield solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
I'm in the throws of viewing apartments in Earlsfield and I am now considering a potential offer. Is it wise to have my conveyancer on ‘stand by’? I intend to finance via a home loan with Yorkshire BS.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. Given that you are obtaining a mortgage with Yorkshire BS, make sure you remember to check that your lawyer is on the Yorkshire BS conveyancing panel.
I have decided to exercise my right to buy my property in Earlsfield off the council. I have a mortgage offer with Clydesdale. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
I am purchasing my first flat in Earlsfield with the aid of help to buy. The developers refused to reduce the price so I negotiated £7000 of additionals instead. The sale representative told me not disclose to my solicitor about the deal as it will jeopardize my mortgage with HSBC Bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a simple, chain free conveyancing. Earlsfield is the location of the property. Is there any guidance you can impart?
Flying freeholds in Earlsfield are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Earlsfield you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Earlsfield 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 residence.
I work for a busy estate agency in Earlsfield where we see a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Earlsfield conveyancing firms. Can you shed some light as to whether the seller of a flat can start the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.
Following months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Earlsfield. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We can put you in touch with a Earlsfield conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Earlsfield property is 35 Trewint Street in February 2012. The Tribunal arrived at a premium of £32 425 for the freehold reversion. The matter was transferred back to the court for further consideration which required the applicants pay the premium (less any assessed costs) into court after which the court would execute a transfer of the freehold. This case was in relation to 2 flats. The unexpired term as at the valuation date was 70.57 years.