My partner and I are looking to purchase a property in Highams Park and are in fact using a Highams Park conveyancing practice. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Nationwide Building Society have this morning contacted us to advise us that they have now hit a problem as our Highams Park conveyancer is not on their approved list of lawyers. Is this a problem?
If you are buying a property requiring a mortgage it is standard for the purchasers' lawyers to also act for the purchaser's lender. 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 property lawyer should contact your mortgage company 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 don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Highams Park lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
It is is a decade since I bought my property in Highams Park. Conveyancing solicitors have recently been appointed on the sale but I can't locate my title documents. Will this jeopardise the sale?
Don’t worry too much. Firstly the deeds may be with your lender or they could be in the possession of the lawyers who acted in your purchase. Secondly in most cases the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers acquiring current official copies of the land registers. Most conveyancing in Highams Park involves registered property but in the unlikely event that your property is not registered it adds to the complexity but is resolvable.
When scouring moneysavingexpert.com for a cheap lawyer in Highams Park, many say that I must look for a CQS accredited lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home moving process, trusted by some of the UK's biggest banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). CQS is not a scheme offered by the Council of Licensed Conveyancing. Highams Park is one of the numerous areas in England and Wales where there are CQS lawyers.
Due to the encouragement of my in-laws I had a survey completed on a property in Highams Park in advance of instructing lawyers. I have been told that there is a flying freehold element to the house. The surveyor has said that some banks will refuse to grant a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Highams Park. Conveyancing may be slightly more expensive based on your lender's requirements.
Looking forward to exchange soon on a garden flat in Highams Park. Conveyancing solicitors inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Highams Park should include some of the following:
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Additions to the flat Setting out your legal entitlements in respect of common areas in the block.For example, does the lease include a right of way over a path or staircase? You should know if the lease permits you to add or improve anything in the premises- you should know whether any restrictions applies to all alterations or limited to structural alteration, and whether permission is mandated necessary Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
I have tried to negotiate informally with with my landlord to extend my lease without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Highams Park conveyancing firm to represent me?
in cases where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to arrive at the sum to be paid.
An example of a Freehold Enfranchisement decision for a Highams Park property is 48 Greenleaf Road in December 2009. the lessees sought to exercise their right to purchase the freehold from the landlord by way of collective enfranchisement in accordance with the Leasehold Reform Housing and Urban Development Act 1993.The landlord could not be found.A vesting order was granted from the Bow County Court on 10 September 2007 (Claim No: 8BO04141). The Tribunal held that the premium to be paid was £3,850 This case related to 2 flats. The unexpired residue of the current lease was 104 years.
What is the difference between surveying and conveyancing in Highams Park?
Conveyancing - in Highams Park or anywhere in England and Wales - is the legal term given to transferring legal title of property from one person to another. It therefore includes the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you discover the condition of the building and, if there are problems, give you a powerful reason for negotiating the purchase price down or asking the vendor to remedy the defects prior to you move in.