We are purchasing a 2 bedroom apartment in Grove Park with a mortgage. We would like to retain our Grove Park solicitor, however the mortgage company says he's not on their "panel". It appears that we have little choice but to appoint one of the lender panel firms or keep our Grove Park conveyancing practitioner and pay for one of their panel firms to act for them. We regard this is unjust; are we not able to require that the bank use our Grove Park property lawyer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms 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. A further alternative is for your Grove Park conveyancing solicitor to apply to be on the conveyancing panel.
My apartment in Grove Park is up for sale and I have a purchaser. Does my conveyancer have to be required to be on the Skipton conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Skipton conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
Various online forums that I have visited warn that are the number one reason for hinderance in Grove Park house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Grove Park.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Grove Park is the location of the property. Can you offer any opinion?
Flying freeholds in Grove Park are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Grove Park you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Grove Park may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Hoping to buy a property located in Grove Park and I am already nervous. I couldn't find anything specific about Grove Park. Conveyancing will be needed in due course but do you know about the Grove Park area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Grove Park. In the meantime here are some basic statistics that we found
Do you have any advice for leasehold conveyancing in Grove Park from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Grove Park can be avoided where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers. You believe that you know the number of years remaining on your lease but you should verify this by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to where the lease term is under 75 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Obtaining a new share certificate is often a lengthy formality and slows down many a Grove Park home move. If a duplicate share is necessary, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later. A minority of Grove Park leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
After years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Grove Park. Can we issue an application to the Residential Property Tribunal Service?
if there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Grove Park premises is 49 Woodstock Court Burnt Ash Hill in May 2012. the payment of £64,116 by the leaseholder was the premium which the Tribunal found due for the lease extension in this case. This case related to 1 flat. The unexpired term as at the valuation date was 23.26 years.