Me and my fiance are intending to purchase a 2 bedroom apartment in Maida Hill with a mortgage. We wish to retain our Maida Hill solicitor, however the lender says she’s not on their "panel". It appears that we have no choice but to instruct one of the mortgage company panel solicitors or keep our Maida Hill solicitor and pay for one of their panel ones to act for them. We feel that this is inequitable; 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 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 Maida Hill conveyancing solicitor to apply to be on the conveyancing panel.
We are purchasing a flat in Maida Hill. It might be a silly question but how we can trust a conveyancer? On the day of competition we have to send money into their account. What is the protection we have from them run away with our deposit?
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.
Can I be sure that the Maida Hill conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Maida Hill getting recommendations is a sensible start. 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 recommend that you speak with the lawyer handling your conveyancing.
I am selling my apartment. I had a double glazing fitted in May 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Leeds Building Society are being pedantic. The Maida Hill solicitor who is on the Leeds Building Society conveyancing panel is recommending indemnity insurance as a solution but Leeds Building Society are insisting on a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society 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.
I am looking for a ground for flat up to £305k and found one close by in Maida Hill I like with open areas and railway links nearby, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Maida Hill in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan that many years will be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
Given that I am about to spend 450k on a property in Maida Hill I would like to have a conversation with the conveyancer regarding theconveyancing prior to giving the go ahead to the firm. Can this be arranged?
This is something that we recommend - we would be delighted to talk to you we do not take any clients on without you liaising with the lawyer who will be conducting your property ownership legalities in Maida Hill.There is no ‘factory style conveyancing’ - each client is unique individual, not a matter reference. The solicitors that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in Maida Hill should be the figure that you are charged.
I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Maida Hill. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in Maida Hill are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Maida Hill so you should seriously consider looking for a Maida Hill conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your conveyancer will appraise you on the various issues.
I own a first floor flat in Maida Hill. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
Where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price.
An example of a Lease Extension case for a Maida Hill flat is Flat 1 57 Oxford Gardens in January 2014. the Tribunal decided that the premium to be paidfor a new lease is £61,650.00. This case affected 1 flat. The unexpired term as at the valuation date was 60 years.
I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Maida Hill. Conveyancing advisers have are about to be instructed. Will they explain the issues?
Most houses in Maida Hill are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Maida Hill so you should seriously consider looking for a Maida Hill conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor will advise you fully on all the issues.