I can't travel far from Park Royal. What is the rationale as to why all Park Royal conveyancers aren't included on all bank panels?
Pre- 2008 most banks had an attitude to risk which is different than today. The financial regulator in 2010 instigated a thematic review into fraud which in summary warned lenders: know the lawyers on your panel. As a result, banks have since looked to extract more information from law firms concerning their operations and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Many firms have found themselves removed from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the minimum volume of transactions the lenders insisted on.
Would the conveyancing lawyers via your comparison service conduct attended exchange conveyancing in Park Royal?
There are a few conveyancing experts who can conduct personalised exchanges. Please contact us to get a conveyancing quote and details as to availability.
At what point can the exchange of contracts occur in sale conveyancing in Park Royal and am I required to attend the lawyers branch?
If you are near to our conveyancing solicitors in Park Royal you are welcome to come in to sign contracts. That being said, the lender approved solicitors we work with supply countrywide coverage for conveyancing and provide as equally detailed and professional a job for you when dealing with you by post or email. The executing of the property agreement is not the important part. Signing on the dotted line simply enables the solicitor to exchange contracts when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Park Royal)to be in the office available at the end of the phone to exchange contracts.
Due to the encouragement of my in-laws I had a survey completed on a house in Park Royal before instructing solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some lenders tend not grant a mortgage on such a property.
It depends who your proposed lender is. HSBC has different requirements from Halifax. If you call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Park Royal. Conveyancing will be smoother if you use a solicitor in Park Royal especially if they are acquainted with such properties in Park Royal.
We are four weeks into a leasehold purchase having been recommend to conveyancers by the selling agent to carry out the conveyancing in Park Royal. I am am very dissatisfied with the quality of service. Can you help me find new lawyers?
They would have to be very poor in order to consider changing them. Has the loan offer been sent? If so you need to make them aware of the new contact details and have the loan are issued to the new lawyers. Your new solicitor ideally needs to be on the lenders panel to avoid added expenses and complications. So that should be your first question of the new solicitors. The search tool can assist you in finding a bank approved conveyancer for your conveyancing in Park Royal
I work for a busy estate agency in Park Royal where we have witnessed a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Park Royal conveyancing firms. Please can you clarify whether the owner of a flat can commence 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 before, or simultaneously with 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 buyer.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Park Royal conveyancing firm to help?
You certainly can. We can put you in touch with a Park Royal conveyancing firm who can help.
An example of a Lease Extension decision for a Park Royal property is 99 Connell Crescent in May 2013. the Tribunal held that the relevant sum for the purposes of the lease extension should be £72,566 to be paid by the leaseholder This case related to 1 flat. The remaining number of years on the lease was 28.42 years.