My IFA has asked me for my Riddlesdown solicitor’s panel member for the HSBC conveyancing panel. Can you suggest how I obtain this. I have called my local Riddlesdown office but they have not responded to me.
The sensible thing to do is ask for this information from your Riddlesdown solicitor . Most Riddlesdown law practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
Our solicitor has identified a defect with the lease for the apartment we are buying in Riddlesdown. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must check that the lender is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
What is the first thing I need to know about purchase conveyancing in Riddlesdown?
Not many law firms shout this from the rooftops but conveyancing in Riddlesdown or throughout England and Wales is often a confrontational process. In other words, when it comes to conveyancing there is lots of opportunity for conflict between you and others involved in the legal transfer of property. E.g., the vendor, estate agent and even potentially a bank. Appointing a solicitor for your conveyancing in Riddlesdown is a critical decision as your conveyancer is your adviser, and is the ONE party in the process whose role it is to act in your legal interests and to protect you.
On occasion a third party with a vested interest will try and convince you that it is in your interests to do things their way. For instance, the selling agent may claim to be assisting by suggesting your conveyancer is slow. Or your mortgage broker may advise you to do something that is against your solicitors recommendation. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I am looking into buying my first house which is in Riddlesdown and I am already nervous. I couldn't find anything specific about Riddlesdown. Conveyancing will be needed in due course but do you know about the Riddlesdown area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Riddlesdown. In the meantime here are some basic statistics that we found
Do you have any top tips for leasehold conveyancing in Riddlesdown from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Riddlesdown can be avoided if you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold information needed by the buyers’ solicitors. If you hold a share in a the freehold, you should make sure that you hold the original share certificate. Obtaining a duplicate share certificate can be a time consuming process and slows down many a Riddlesdown conveyancing transaction. If a duplicate share is necessary, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity. You believe that you know the number of years left on your lease but it would be wise to double-check via your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. Many freeholders or managing agents in Riddlesdown charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Riddlesdown. In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Riddlesdown state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Should you fail to have the paperwork in place you should not communicate with the landlord without checking with your lawyer before hand.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Riddlesdown conveyancing firm to act on my behalf?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to assess the premium.
An example of a Freehold Enfranchisement decision for a Riddlesdown flat is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case was in relation to 6 flats. The unexpired term as at the valuation date was 78.32 years.
We are buying a four room bungalowin Riddlesdown with a residential mortgage from a mortgage company. We wish to instruct our solicitor in Riddlesdown yet our mortgage company says he's not approved on their "panel". It seems we have little choice but to instruct one of the our bank panel solicitors or keep our Riddlesdown conveyancer and incur the extra fees for one of their panel ones to represent our lender. This seems very unfair; Can we not simply insist that our mortgage company use our Riddlesdown lawyer?
Unfortunately,no. The lender home loan offered to you is subject to its terms and conditions, one of which will be that lawyers will on the mortgage company's conveyancing panel. Until recently, most banks had large numbers of law firms on their panels, including almost all conveyancing solicitors in Riddlesdown : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for your mortgage company.