Is the fact that my conveyancer in Harold Park is not on my bank's solicitor panel that there is a problem with the quality of his conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (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 simply call the Harold Park conveyancing firm and ask them why they are no longer on the approved list for your lender.
My wife and I are purchasing a brand new apartment in Harold Park and my solicitor is advising me that she is duty bound to the mortgage company to disclose incentives from the builder. I am on a tight deadline to exchange contracts and my preference is not to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
When will exchange of contracts happen for sale conveyancing in Harold Park and do I need to be at the conveyancers branch?
If you are in close proximity to one of the conveyancing solicitors in Harold Park you are invited in to sign the paperwork. However, the lender approved solicitors we work with provide a national conveyancing service and provide just as detailed and professional a job for you when dealing with you by post or email. The executing of the contract is not the critical part. Signing on the dotted line simply enables the conveyancer to exchange contracts at the suitable time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Harold Park)to be in the office available at the end of the phone to exchange contracts.
I'm buying a new build house in Harold Park with the aid of help to buy. The builders refused to move on the price so I negotiated 6k of extras instead. The property agent suggested that I not disclose to my solicitor about the deal as it may impact my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Can you provide any top tips for leasehold conveyancing in Harold Park from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Harold Park can be reduced where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the buyers’ lawyers. A minority of Harold 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 will need to confirm that the buyers are able to meet the yearly 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 buyers or their lawyers. If you are supposed to have a share in the freehold, you should ensure that you have the original share certificate. Arranging a re-issued share certificate can be a time consuming formality and delays many a Harold Park conveyancing transaction. If a reissued share certificate is needed, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible. In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Harold Park leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord consenting to such changes. If you fail to have the consents to hand do not communicate with the landlord without contacting your lawyer in advance.
I have had difficulty in trying to purchase the freehold in Harold Park. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We are happy to put you in touch with a Harold Park conveyancing firm who can help.
An example of a Lease Extension case for a Harold Park flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The number of years remaining on the existing lease(s) was 57.5 years.
I have been looking for Harold Park online conveyancing estimates. Can I be confident that all the Harold Park law firms that are listed on your directory are on the lender conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the bank panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Harold Park firm being on the lender conveyancing panel is incorrect.