My husband and I are hoping to purchase a house in Lisson Grove and have appointed a Lisson Grove conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Barnsley Building Society have this morning contacted us to advise us that they have now hit a problem as our Lisson Grove solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is standard for the purchasers' solicitors to also represent the mortgage company. 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 bank 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Lisson Grove solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
We are planning to purchase with Norwich and Peterborough Building Society. We have called around locally yet am struggling to find a Lisson Grove conveyancing firm on the Norwich and Peterborough Building Society approved list. Could you help?
You should take advantage of the search tool on this web page. Please choose the lender and type Lisson Grove or your preferred area and you will see a number of lawyer located in Lisson Grove or by proximity to you.
We are purchasing a house in Lisson Grove. I might seem paranoid but how we can trust a solicitor? On completion day we have to put money into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have been advised by my conveyancer that missing deeds insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Lisson Grove?
The appropriate level of missing deeds indemnity insurance should be dictated by who who your lender is. It would differ for example between Birmingham Midshires and Chelsea Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
Can I be sure that the Lisson Grove conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Lisson Grove seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer conducting your transaction.
I decided to have a survey completed on a property in Lisson Grove in advance of appointing conveyancers. I have been told that there is a flying freehold element to the property. My surveyor advised that some banks will refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. If you call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Lisson Grove. Conveyancing will be smoother if you use a solicitor in Lisson Grove especially if they regularly deal with such properties in Lisson Grove.
I need to appoint a conveyancing solicitor for sale conveyancing in Lisson Grove. I happened to land on a web site which seems to have the perfect offering If there is a chance to get all the legals done via web that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am employed by a long established estate agency in Lisson Grove where we have witnessed a few flat sales put at risk due to short leases. I have received inconsistent advice from local Lisson Grove conveyancing firms. Could you confirm whether the owner of a flat can initiate the lease extension formalities for the buyer?
Provided that the seller has owned the lease 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 wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
I inherited a two-bedroom flat in Lisson Grove. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Most certainly. We can put you in touch with a Lisson Grove conveyancing firm who can help.
An example of a Lease Extension decision for a Lisson Grove flat is Flats 37 & 39 88/90 Portland Place in December 2010. The Tribunal determined that the premium payable for the lease extensions in respect of these two flats is as follows:- For Flat 37, the sum of £385,230.00 For Flat 39, the sum of £436,780.00 This case related to 2 flats. The number of years remaining on the existing lease(s) was 24.02 years.