Is the fact that my conveyancer in Grange Park is not identified on my lender's solicitor panel that there is a problem with the quality of his work?
That would most likely be an incorrect assumption to make. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Grange Park conveyancing practice and enquire why they are no longer on the approved list for your lender.
Can your site be used to recommend a Conveyancing solicitor in Grange Park even where I’m not buying or disposing of a house, for example if I want to acquire an office in Grange Park with a mortgage from Nationwide Building Society?
Our search tool is primarily used to get a quote from domestic conveyancing solicitors in Grange Park but we have recorded at the end of this page a selection of Grange Park commercial conveyancing firms. You will need to make contact with the solicitors directly to see if they are also authorised to represent Nationwide Building Society
I am about to put a bid on a leasehold flat in Grange Park. The property agents assure me that it is normal for flats in Grange Park to have less than 75 years unexpired on the lease. I am getting a loan with Accord Mortgages. Is this going to be acceptable if the lease has 69 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 20/12/2024 the requirements read as follows :
We have agreed to purchase a house in Grange Park. A rare aspect is that the roof has a solar panel. Leeds Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Leeds Building Society your lawyer must check the conveyancing instructions outlined in Section two of UK Finance Lenders’ Handbook for Leeds Building Society. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and lawyers are required to report to Leeds Building Society where a lease fails to satisfy these conditions. The provisions relate to the installation of panels on properties in England and Wales and is not restricted to Grange Park.
I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Grange Park bank branch on a couple of occasions and was reassured it wasn't a problem and they will lend. My Grange Park conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the conveyancer is on the mortgage company panel, she or he must adhere to the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
After much negotiation I have agreed a price on a house in Grange Park. My mortgage broker recommended their conveyancers. I paid an on account payment of £175. A couple of days later, the conveyancing practitioner contacted me sheepishly admitting that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Are there restrictive covenants that are commonly identified as part of conveyancing in Grange Park?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Grange Park. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
We own a leasehold flat in Grange Park. Conveyancing was finished in 2009. I have heard that I should not let the the remaining lease term to get too low. What is the reasoning?
Grange Park leasehold properties are for a fixed term - usually 99 years when they are first granted. However many flats in Grange Park were constructed or converted 35 or more years ago and so these leases now have under 80 years remaining. This may sound like plenty of time however Banks, Building Societies and other mortgage companies generally need leases to have at least 75 years left to adequate security. This means that when you come to sell the property you will need to extend the term of your lease if you are getting close to eighty years. To enhance the marketability of your property you should be thinking about whether to extend your lease well in advance of selling the property. Furthermore strong financial reasons to doing so before the lease hits 80 years as when the lease is below eighty years the amount you have to pay to extend starts to increase.