My husband and I are looking to purchase a home in Gidea Park and are in fact using a Gidea Park conveyancing practice. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Godiva Mortgages Ltd have this morning contacted us to inform me that there is now an issue as our Gidea Park lawyer is not on their conveyancing panel. Please explain?
If you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also represent the purchaser's lender. 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 Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Gidea Park lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
If you had a top tip for selecting a conveyancing solicitor in Gidea Park what would it be?
It would be unwise to be swayed by the cheapest Gidea Park conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
Forgive me if this question is silly but I am unseasoned as a first time buyer of a garden flat in Gidea Park. Do I collect the keys to the house on completion from my conveyancer? If this is the case, I will use a local conveyancing solicitor in Gidea Park?
On the day of completion you will not be required to attend the conveyancers office in Gidea Park. Conveyancing lawyers for you will transfer the completion advance to the owner’s solicitors, and shortly after the monies have arrived, you should be invited to pick up the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
I am buying a property in Gidea Park. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Co-operative be concerned?
As you are obtaining a mortgage with Co-operative your lawyer must comply with the conveyancing requirements contained in Section two of UK Finance Lenders’ Handbook for Co-operative. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Co-operative where a lease fails to meet these conditions. The requirements relate to the installation of panels on properties nationwide and is not restricted to Gidea Park.
What does a local search tell me about the house I am purchasing in Gidea Park?
Gidea Park conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company such as PSG The local search plays a central part in many a Gidea Park conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
The estate agent has sent us the confirmation of our purchase of a new build flat in Gidea Park. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Gidea Park
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I am employed by a long established estate agency in Gidea Park where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Gidea Park conveyancing solicitors. Can you confirm whether the owner of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.
Following years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Gidea Park. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We are happy to put you in touch with a Gidea Park conveyancing firm who can help.
An example of a Lease Extension decision for a Gidea Park residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The remaining number of years on the lease was 57.5 years.
What is the best way to find the right lawyer for my conveyancing in Gidea Park ?
First ask your friends and family they would would seek assistance from. Option 2 is to search the web for conveyancing in Gidea Park. Phone a couple or more firms from the list and request that they send you their conveyancing estimate and speak to the lawyer who will handle your conveyancing before you commit. Option 3 is to use our search tool to assist you in finding the right lawyers taking into account your unique requirements including location,speed, complexity and who the proposed lender is.Do not be fooled by lowest cost conveyancing solicitors in Gidea Park