I am six weeks into the sale of my flat in Grange Park and the EA has just called to advise that the buyers are appointing a new law firm. The excuse is that the lender will only work with property lawyers on their approved list. On what basis would a big named mortgage company only deal with specific law firms rather the firm that they want to choose to handle their conveyancing in Grange Park ?
Banks have always had an approved set of law firms that can represent them, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lending institutions point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.
Is there a reason why leasehold purchase conveyancing in Grange Park is more expensive?
Grange Park leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
When scouring moneysavingexpert.com for a high-quality solicitor in Grange Park, most advise that I must instruct a CQS kitemarked lawyer. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to best practice conveyancing processes through the scheme protocol Membership covers many companies who carry out conveyancing in Grange Park.
My stepmother pointed out to me me that in buying a property in Grange Park there may be a number of restrictions preventing external changes to a property. Is this right?
We are aware of anumerous of properties in Grange Park which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Grange Park should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I happen to be the sole beneficiary of my late father’s estate with all property in now in my sole name, including the house in Grange Park. The Grange Park property was put into my name in October. I want to move. I do know about the CML 6 month 'rule', meaning my property ownership may be considered the same way as though I had purchased the property in October. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. Most mortgage companies would take a practical view as this clause is primarily there to capture subsales or the wholesaling and assigning of property.
I am purchasing a property in Grange Park. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Principality be concerned?
Given that you are obtaining a mortgage with Principality your lawyer must follow the conveyancing requirements contained in Part two of UK Finance Lenders’ Handbook for Principality. The Council of Mortgage Lenders’ Handbook stipulates minimum requirements for solar panel roof-space leases, and lawyers are required to report to Principality where a lease fails to satisfy these requirements. The provisions relate to the installation of panels on properties in England and Wales and is not limited to Grange Park.
I have justbecome aware that Wolstenholmes have been shut down. They carried out my conveyancing in Grange Park for a purchase of a freehold house 9 months ago. How can I be sure that my home is in my name in the name of the previous owner?
The quickest way to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Grange Park conveyancing specialists.
There are only 62 years left on my flat in Grange Park. I now wish to extend my lease but my freeholder is missing. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you have made all reasonable attempts to locate the lessor. For most situations a specialist would be useful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Grange Park.
My wife and I have hit a brick wall in trying to purchase the freehold in Grange Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a Grange Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Grange Park property is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The unexpired lease term was 81.79 years.