My partner and I are looking to buy a home in Harlow and are in fact using a Harlow conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Birmingham Midshires have this afternoon contacted us to advise us that there is now an issue as our Harlow lawyer is not on their approved list of lawyers. Is this a problem?
If you are buying a property needing a mortgage it is usual for the purchasers' lawyers to also act for the mortgage company. 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 bank's conveyancing panel as you are at liberty to use your preferred Harlow lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Is it possible for conveyancing in Harlow to be completed inside 10 days?
First, If you are under time constraints for your conveyancing we would recommend that your solicitor is familiar with the area as they will have local relationships and know-how. It is even conceivable that they may have handled previousproperties in the same road. You would be best advised to use a Harlow conveyancing firm. In addition, be sure that the conveyancing firm is on the on the approved list for your mortgage company. It is believed that 18% of Harlow conveyancing deals are frustrated or derailed after finding out that a purchaser’s conveyancer was not on their banks member panel. This can often result in the conveyancing being delayed by almost 21 days. It is said that this issue impacts in the region of one hundred thousand home moves every year. Almost all Harlow conveyancing practices can not act for certain mortgage companies so do check at the outset.
It is is a decade since I acquired my property in Harlow. Conveyancing lawyers have just been retained on the sale but I can't track down the deeds. Will this cause complications?
Don’t worry too much. First the deeds may be kept by the mortgage company or they could still be with the conveyancers who oversaw your purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring up to date copy of the land registers. The vast majority of conveyancing in Harlow involves registered property but in the rare situation where your property is unregistered it is more of a problem but is not insurmountable.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Harlow. 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 are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Harlow
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Please confirm the Lease plans are surveyor prepared. There must be mutual enforceability of lessee’s covenants. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Harlow is where the house is located. What do you suggest?
Flying freeholds in Harlow are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Harlow you would need to get your solicitor to go 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 Harlow may decide 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 residence.
Having checked my lease I have discovered that there are only Seventy years left on my flat in Harlow. I now wish to extend my lease but my freeholder is absent. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to find the landlord. For most situations a specialist would be helpful to carry out a search and prepare an expert document which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court covering Harlow.
Harlow Leasehold Conveyancing - Sample of Questions you should ask Prior to buying
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Is anyone aware of any major works anticipated that will likely increase the service costs? Is there a share of the freehold? You should want to find out as much as you can concerning the company managing the block as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to daily issues such as the cleanliness of the common parts. Ask prospective neighbours whether they are happy with their service. In conclusion, be sure you understand the dates that you are obliged pay the maintenance charge to the appropriate party and specifically how they are spending the funds.