We are buying a 2 bedroom apartment in Islington with a mortgage. We like our Islington conveyancer, however the bank advise he's not on their "panel". It seems we have no choice but to instruct one of the bank panel solicitors or continue with our Islington solicitor and pay for one of their panel ones to act for them. We feel that this is inequitable; can we not insist that the lender use our Islington conveyancer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Islington conveyancing solicitor to apply to be on the conveyancing panel.
My grandson is about to exchange on a house that has just been built in Islington with a mortgage from TSB. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the TSB conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the TSB conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Should our solicitor be asking questions regarding flooding during the conveyancing in Islington.
Flooding is a growing risk for lawyers dealing with homes in Islington. There are those who buy a property in Islington, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, but there are a numerous checks that can be initiated by the purchaser or by their conveyancers which should figure out the risks in Islington. The conventional set of completed inquiry forms sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a standard inquiry of the owner to determine whether the property has ever been flooded. If the residence has been flooded in past and is not notified by the seller, then a purchaser could issue a compensation claim as a result of such an inaccurate answer. A purchaser’s conveyancers will also carry out an enviro search. This will indicate whether there is any known flood risk. If so, more detailed inquiries should be carried out.
Due to the guidance of my in-laws I had a survey completed on a property in Islington ahead of appointing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies tend not issue a loan on such a home.
It varies from the lender to lender. HSBC has different instructions from Nationwide. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Islington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Islington to see if the conveyancing will be more expensive.
My partner has urged me to use his lawyers for conveyancing in Islington. Should I use them?
No doubt it’s preferable to find a conveyancing solicitor is to seek guidance from friends or family who have actually used the conveyancer that you are are thinking of instructing.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £475,000 flat in Islington in just under a week. The landlords agents has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Islington?
Islington conveyancing on leasehold apartments normally necessitates fees being invoiced by landlords agents :
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Completing conveyancing due diligence questions
Where consent is required before sale in Islington
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Islington conveyancing firm to act on my behalf?
in cases where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to determine the premium.
An example of a Lease Extension matter before the tribunal for a Islington flat is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case related to 1 flat. The remaining number of years on the lease was 80.5 years.