My wife and I are looking to purchase a house in Enfield Lock and have appointed a Enfield Lock conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Bank of Scotland have this afternoon contacted us to advise us that there is now an issue as our Enfield Lock conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Enfield Lock solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
We have very assertive sellers who has recommended a preliminary contract with a non-refundable deposit of 5k. Are such arrangements promoted for Enfield Lock conveyancing transactions?
There are a couple of main concerns with entering into any lock out agreement (occasionally known as a no-shop agreement) is that it can distract from moving forward with the conveyancing work, so unless it requires limited or no negotiation then it may transpire to be unhelpful. It is not particularly popular by Enfield Lock conveyancing practitioners as a result. The other main negative is the extent of the remedies available - a jilted buyer should not expect to be issued with injunctive relief to bar the seller disposing of the property to a third party, so the only remedy open via the agreement will be the reimbursement of wasted charges and, in limited circumstances, the extra payment of penalties.
five months have elapsed following my purchase conveyancing in Enfield Lock completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Enfield Lock. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Enfield Lock
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please confirm the Lease plans are surveyor prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants.
I need to retain a conveyancing solicitor for sale conveyancing in Enfield Lock. I happened to discover a web site which seems to have the perfect solution If it is possible to get all this stuff done via email that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I’m about to sell my ground floor apartment in Enfield Lock. Conveyancing is yet to be initiated, but I have just received a half-yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as you normally would because all ground rent and service payments will be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Enfield Lock conveyancing firm to act on my behalf?
in cases where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the LVT to assess the price payable.
An example of a Vesting Order and Purchase of freehold case for a Enfield Lock property is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case related to 2 flats. The unexpired lease term was 80.01 years.