My Solicitor in Piccadilly is not listed on the Virgin Money Conveyancing Panel. Can I still retain my family solicitor even though they are not on the Virgin Money approved list?
The limited options available to you here include:
- Complete the purchase with your preferred Piccadilly solicitors but Virgin Money will need to use a solicitor on their list of acceptable firms. This will inevitably rack up the total conveyancing fees and result in delays.
- Find an alternative solicitor to to deal with the purchase, remembering to check they are Virgin Money approved.
- Try to convince your Virgin Money solicitor to try to join the Virgin Money panel
Have just purchased a repossessed house at auction in Piccadilly. Conveyancing is necessary. What is next?
Now that you have legally committed yourself to purchase you will need to retain a conveyancing lawyer soon as you will have a tight a fixed date to complete the deal. All auction property should have an associated auction set of papers. This should include evidence of title and search results. If you have purchased leasehold premises the conveyancing papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You should hand this to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds in order to complete the transaction on the set completion date.
Is there a list of Bank of Ireland panel conveyancers in Piccadilly on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. Very few lenders make their panel listings available on the web. If you are seeking to appoint a Piccadilly conveyancer on the Bank of Ireland please use our tool.
I have paid off my mortgage with HSBC. I assume I don't need a Piccadilly property lawyer on the HSBC panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
I bought my flat on 8 September and my personal details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in Piccadilly expressed confidence that it would be dealt with inside ten days. Are properties in Piccadilly particularly slow to register?
There is nothing unique about conveyancing in Piccadilly registration formalities. As opposed to being determined by geographic area, timescales can vary depending on who lodges the application, whether it is in order and if the Land registry must send notices to any interested parties. At present approximately 80% of submission are completed in less than three weeks but occasionally there can be extensive hold-ups. Historically registration is effected after the new owner has moved in to the property therefore post completion formalities is not usually top priority yet where it is urgent that the the registration takes place urgently then you or your conveyancer should communicate with the Registry to express the reasoning for an expedited registration.
How easy is it to change solicitor as I need to select a firm on the Alliance & Leicester conveyancing panel. I had appointed a family conveyancing solicitor in Piccadilly round the corner but she is not accepted by Alliance & Leicester
It would be our pleasure to assist you find a conveyancing solicitor in Piccadilly on the Alliance & Leicester panel. Please note that the solicitors that we on the directory do not pay us commission if you instruct them and are regulated by the SRA who oversee all conveyancing solicitors in Piccadilly. In utilising the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Piccadilly.
Am I best advised to choose a Piccadilly conveyancing practitioner based in the location that I am purchasing? I have an old university friend who can handle the legal formalities but her office is a couple of hundredkilometers drive away.
The primary upside of using a local Piccadilly conveyancing firm is that you can visit the firm to sign paperwork, hand in your identification documents and pester them where appropriate. Having local Piccadilly know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were happy that should trump using an unknown Piccadilly conveyancing lawyer just because they are round the corner.
I am tempted by the attractive purchase price for a couple of maisonettes in Piccadilly which have approximately 50 years left on the lease term. should I be concerned?
There is no doubt about it. A leasehold flat in Piccadilly is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the premises. The majority of purchasers and lenders, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Piccadilly conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Piccadilly. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to arrive at the premium.
An example of a Lease Extension decision for a Piccadilly residence is Flat 1 3 Upper Belgrave Street in December 2010. The Tribunal determined that the price payablefor the Lease extension in respect of the subject premises was £2,202,007 This case was in relation to 1 flat. The unexpired lease term was 21 years.