The Northwood conveyancing firm handling our Northwood conveyancing has identified a difference when comparing the assumptions in the valuation survey and what is in the conveyancing documents. My lawyer informs me that he is duty bound to ensure that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s stance right?
Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
As someone not used to the Northwood conveyancing process what’s the number one tip you can give me concerning the legal transfer of property in Northwood
Not many law firms shout this from the rooftops but conveyancing in Northwood and elsewhere in West London is often a confrontational experience. In other words, when it comes to conveyancing there is an abundance of opportunity for confrontation between you and others involved in the legal transfer of property. For example, the seller, estate agent and on occasion your bank. Choosing a solicitor for your conveyancing in Northwood is a critical decision as your conveyancer is your adviser, and is the SOLE party in the legal process whose interest is to protect your legal interests and to protect you.
There is a distinct emergence in the "blame" culture- someone has to be at fault for the process taking so long. You your first instinct should be to trust your conveyancer above the other players in the home moving process.
My lawyer has informed me that defective lease insurance is necessary on my purchase. What is the level of cover for Northwood conveyancing?
The right level of defective lease indemnity insurance depends on your lender. It would differ for example between Santander and Bank of Scotland. Conveyancing lawyers as opposed to borrowers take out such insurances.
We have agreed to purchase a house in Northwood. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Santander be concerned?
As you are obtaining a mortgage with Santander your lawyer must follow the conveyancing requirements outlined in Part two of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook contains minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Santander where a lease fails to meet these requirements. The provisions relate to the installation of panels on properties countrywide and is not isolated to Northwood.
Our sealed bid on a property in Northwood has been accepted, the owners do nevertheless have a dependent purchase. The sellers have offered on on an apartment, however it’s not been accepted yet, and have viewings of other properties booked. I have selected a local conveyancing solicitor in Northwood. What should be my next step? At what point do I apply for the mortgage with UBS?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then valuation, Northwood conveyancing search costs, etc). First, you must check that your property lawyer is on the UBS conveyancing panel. Concerning the next steps this very much dictated by the circumstances of your case, motivation for this property and on the state of the market. In a buoyant market many home buyers will apply for a home loan with UBS and pay for the valuation and only if it comes back ok would they ask their conveyancing practitioner to press on with the conveyancing in Northwood.
My wife and I have a 4 bedroom Victorian house in Northwood. Conveyancing lawyer acted for me and Lloyds TSB Bank. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Northwood and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with your conveyancing practitioner who conducted the conveyancing.
How does conveyancing in Northwood differ for newly converted properties?
Most buyers of new build residence in Northwood come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Northwood usually purchase 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 conveyancers 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 accustomed to new build conveyancing in Northwood or who has acted in the same development.
If all goes to plan we aim to complete our sale of a £425,000 apartment in Northwood next Tuesday. The landlords agents has quoted £420 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Northwood?
Northwood conveyancing on leasehold apartments usually involves the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be willing to do so. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The management information fee required by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. In reality you have little choice but to pay whatever is requested of you should you wish to sell the property.
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Northwood conveyancing firm to act on my behalf?
if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the price.
An example of a Lease Extension decision for a Northwood residence is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case affected 3 flats. The remaining number of years on the lease was 71 years.