My husband and I decided to purchase a newly converted flat in Grahame Park with a mortgage from Nottingham Building Society.We like our Grahame Park conveyancing practitioner but Nottingham Building Society says her practice is not on their "panel". We have to appoint a Nottingham Building Society panel lawyer or keep our preferred solicitor and pay for a Nottingham Building Society panel lawyer to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The home loan issued to you is subject to its terms and conditions, one of which will be that conveyancers will be on the Nottingham Building Society solicitor panel. Until recently, most lenders had large numbers of solicitors 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Nottingham Building Society
I am helping my step-mother sell her flat in Grahame Park. Will the solicitor order the EPC or it is for me to see to?
After the demise of Home Information Packs, energy performance certificates was maintained a compulsory component of moving house. An energy assessment must be to hand prior to the property being marketed. It is not as aspect of the sale process that lawyers ordinarily organise. Where you are using a Grahame Park conveyancing lawyer they might be able to arrange energy assessments due to their contacts with reputable local energy assessors
Can you point me to a directory of Clydesdale panel solicitors in Grahame Park on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. Very few mortgage companies make their panel listings available over the internet. If you are looking for a Grahame Park lawyer on the Clydesdale please make the most of our tool.
We were going to get a DIP from Aldermore 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 Aldermore recommend any Grahame Park solicitors on the Aldermore conveyancing panel, or is it better to go independently?
You will need to appoint Grahame Park solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
My partner and I are selling our property in Grahame Park and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed an internet conveyancing practice as opposed to a conveyancing solicitor in Grahame Park. Having lived in Grahame Park for six years we know of no issue. Should we contact our local Authority to get confirmation need.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
It has been 2 months since my purchase conveyancing in Grahame Park concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. 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 asset 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.
How does conveyancing in Grahame Park differ for newly converted properties?
Most buyers of new build or newly converted property in Grahame Park approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in Grahame Park tend to purchase the site, 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 Grahame Park or who has acted in the same development.
I am tempted by the attractive purchase price for a couple of apartments in Grahame Park which have approximately forty five years unexpired on the leases. Will this present a problem?
There are no two ways about it. A leasehold flat in Grahame Park is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and lenders, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Grahame Park conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Grahame Park. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a missing landlord 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 First-tier Tribunal (Property Chamber) to make a decision on the price payable.
An example of a Freehold Enfranchisement case for a Grahame Park flat is 1 & 1A Sunningfields Crescent in September 2013. The Tribunals calculation of the amount to be paid into court in respect of the value of the freehold interest is £11,997 in respect of Flat 1 and £15,781 in respect of Flat 1A for a total of £27,778. This case was in relation to 2 flats. The unexpired residue of the current lease was 71.5 years.