My husband and I are planning to buy a property in Iver and have appointed a Iver conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. The Royal Bank of Scotland have this afternoon contacted us to inform me that there is now an issue as our Iver solicitor is not on their approved list of lawyers. Is this a problem?
Where you are buying a property needing 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 solicitor 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 lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Iver solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Do the conveyancing solicitors that you recommend conduct right to buy conveyancing in Iver?
We work with a variety of conveyancing experts carrying out right to buy conveyancing Do get in touch with us with a view to get a costs illustration.
I require fast conveyancing in Iver as I am under a deadline to exchange contracts within 4 weeks. A home loan is not required. Is it possible to escape the need for conveyancing searches to save money and time?
If.Given you are not obtaining a home loan you are at liberty not to do searches although no solicitor would suggest that you don't. With plenty of history conveyancing in Iver the following are examples of what can appear and therefore affect future mortgageability: Enforcement Actions, Overdue Charges, Outstanding Grants, Unadopted Roads,...
How does conveyancing in Iver differ for new build properties?
Most buyers of new build property in Iver approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because developers in Iver typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Iver or who has acted in the same development.
I am a negotiator for a reputable estate agent office in Iver where we see a few leasehold sales put at risk as a result of short leases. I have been given conflicting advice from local Iver conveyancing firms. Please can you confirm whether the seller of a flat can instigate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a two-bedroom flat in Iver. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?
if there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the amount due.
An example of a Freehold Enfranchisement case for a Iver premises is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case was in relation to 2 flats. The unexpired residue of the current lease was 69 years.
I need to find a bank panel solicitor in Iver. Could you help me?
It is not clear why you need a Iver panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the mortgage company to find out which solicitors in Iver are on their panel . If you do find such a firm in Iver not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site