Me and my fiance are buying a 3 bedroom flat in Hendon with a mortgage. We have a Hendon lawyer, however the lender says she’s not on their "panel". It appears that we have little choice but to use one of the bank panel firms or continue with our Hendon conveyancing practitioner as well as pay for one of their panel firms to act for them. We consider that this is unjust; is there anything we can do?
No, not really. 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. Another option that might be available is for your Hendon conveyancing lawyer to apply to be on the conveyancing panel.
We're in Hendon, FTBs buying with a mortgage (lender is Clydesdale , and our solicitor is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Forgive me if this question is silly but I am wet behind the ears as a 1st time buyer of a two bedroom flat in Hendon. Do I collect the keys to the property on completion from my conveyancer? If this is the case, I will instruct a local conveyancing solicitor in Hendon?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you will be able to receive the keys from the Estate Agents and move into your new home. Usually this occurs early afternoon.
We had appointed conveyancers locally in Hendon on the Kent Reliance solicitor panel. They are now charging me a supplemental charge for dealing with the Kent Reliance mortgage. Is this a supplemental conveyancing fee specified by Kent Reliance?
Provided it is contained in their Terms and Conditions or Quote then yes your lawyer can charge a fee for this. This charge is not set by Kent Reliance but by your Hendon solicitor. Some firms on the Kent Reliance panel will charge ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
I am due to exchange contracts on my apartment. I had a double glazing fitted in September 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, RBS are being problematic. The Hendon solicitor who is on the RBS conveyancing panel is recommending indemnity insurance as a solution but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one near me in Hendon I like with amenity areas and transport links nearby, however it only has 51 years on the lease. I can't really find anything else in Hendon in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan the remaining unexpired lease term will be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
I am attracted to a couple of flats in Hendon both have approximately forty five years left on the leases. Will this present a problem?
There are no two ways about it. A leasehold apartment in Hendon is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most buyers and banks, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hendon conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Having spent years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Hendon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to judgment on the sum to be paid.
An example of a Lease Extension decision for a Hendon flat is First Floor Flat 61 Wilberforce Road in March 2014. The premium payable was £10,130 and the case was remitted back to the Willesden County Court to effect the Vesting Order (Claim No 3W103100). This case related to 1 flat. The unexpired lease term was 71 years.
I am an executor of my recently deceased parent's Will, with a house in Hendon which is to be sold. The property has never been registered at the Land Registry and I'm advised that some EAs will insist that it is completed before they will proceed. What's the procedure for this?
In the circumstances you refer to it seems sensible to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.