My solicitor has uncovered a defect with the lease for the apartment we are purchasing in Ravenscourt Park. The other side have suggested defective title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor has advised that he must ensure that the lender is happy with this solution. Are we the client or is the bank?
Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. The appropriate lender conditions must be adhered to.
When it comes to mortgage companies such as Skipton, do Ravenscourt Park lawyers incur a fee to be on the list of approved solicitors?
We are unaware of any lender fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
My husband and I have arranged a further advance on our mortgage from Yorkshire BS as we wish to carry out a loft conversion to our house in Ravenscourt Park. Are we obliged to appoint a nearby Ravenscourt Park solicitor on the Yorkshire BS conveyancing panel to handle the legals?
Yorkshire BS would not normally require firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS panel.
Intending to buy a apartment in Ravenscourt Park. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Ravenscourt Park property lawyer is on the Co-operative conveyancing panel.
Will my conveyancer be raising questions regarding flooding during the conveyancing in Ravenscourt Park.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Ravenscourt Park. There are those who acquire a property in Ravenscourt Park, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, however there are a various checks that can be undertaken by the buyer or on a buyer’s behalf which will figure out the risks in Ravenscourt Park. The standard completed inquiry forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a standard inquiry of the vendor to find out if the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the seller, then a buyer could bring a claim for damages as a result of such an inaccurate answer. The buyer’s conveyancers will also conduct an environmental search. This should reveal if there is any known flood risk. If so, additional inquiries should be conducted.
Is it possible to transfer to a new conveyancer as I need to select a firm on the Lloyds TSB Bank conveyancing list. I hired a family conveyancing solicitor in Ravenscourt Park round the corner but he is not accepted by Lloyds TSB Bank
It would be our pleasure to help you find a conveyancing solicitor in Ravenscourt Park on the Lloyds TSB Bank panel. Please note that the conveyancers that we work with do not pay us a referral fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Ravenscourt Park. In making use of search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Ravenscourt Park.
Can you provide any advice for leasehold conveyancing in Ravenscourt Park from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Ravenscourt Park can be reduced if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers’ conveyancers. If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Obtaining a duplicate share certificate can be a time consuming formality and slows down many a Ravenscourt Park home move. Where a new share certificate is required, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later. If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled. Some Ravenscourt Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
My wife and I have hit a brick wall in seeking a lease extension in Ravenscourt Park. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Ravenscourt Park conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Ravenscourt Park property is 19 Crisp Road in June 2009. Following a vesting order (Under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993) The tribunal determined that the premium payable for the acquisition of the freehold was £33,756,apportioned as to£12,285 for the lower at and £21,471for the upper fat. This case related to 2 flats. The remaining number of years on the lease was 68.32 years.
My partner is buying a shared ownership flat in Ravenscourt Park. He has received a fee estimate by the conveyancer suggested by the estate agents totaling £1250 . It was ten years ago I sold and purchased a property and the bill was £450. Have costs really increased to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Ravenscourt Park searches, land registry fees, etc)