I am in the process of selling my ground floor flat in Pinner Green and the EA has just called to advise that the purchasers are switching solicitor. The excuse is that the mortgage company will only engage with property lawyers on their approved list. Why would a major lender only deal with specific solicitors rather the firm that they want to choose for their conveyancing in Pinner Green ?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders blame a rise in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any impact on this.
The Pinner Green conveyancing firm that I appointed last week on my purchase in Pinner Green have suddenly shut down. I only went with them because I had to have a firm on the Kent Reliance conveyancing panel and my previous Pinner Green lawyer was not. I issued them a cheque for £250 in advance. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Kent Reliance conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Pinner Green?
There are many registered licenced Conveyancers in Pinner Green and Solicitor partnerships in Pinner Green who can assist with your conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. Both can deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I had a mortgage agreed in principle with Nottingham. Pinner Green conveyancing lawyers were selected. What is the average time that one could expect to receive a mortgage offer from Nottingham?
There is no definitive answer here. Have Nottingham done the survey? Have you informed Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Pinner Green building society branch on numerous occasions and was told it does not affect the mortgage offer and they would lend. My Pinner Green conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Provided that the solicitor is on the mortgage company panel, she or he must adhere to the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Have purchased a a detached house in Pinner Green , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Pinner Green conveyancing solicitor works at snail pace, so I want to be certain that my purchase is recorded.
As far as conveyancing in Pinner Green registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can adjust subject to who lodges the application, whether it is in order and whether the Land registry communicate with any interested persons or bodies. At present roughly three quarters of submission are fully addressed within two weeks but some can be subject to longer hold-ups. Historically registration takes place after the buyer is living at the premises so post completion formalities is not always primary concern but where it is urgent that the the registration takes place urgently then you or your solicitor must communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Pinner Green differ for newly converted properties?
Most buyers of new build or newly converted property in Pinner Green come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because builders in Pinner Green usually acquire the site, 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 used to new build conveyancing in Pinner Green or who has acted in the same development.
Back In 2007, I bought a leasehold house in Pinner Green. Conveyancing and Bank of Scotland mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Pinner Green who acted for me is not around. Any advice?
First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Pinner Green conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Having spent months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Pinner Green. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to judgment on the sum to be paid.
An example of a lease Extension case for a Pinner Green property is 25 Beechwood Avenue in November 2012. the Tribunal accordingly determined that the premium for the lease extension should be £24,353. This case related to 1 flat. The unexpired residue of the current lease was 58.19 years.