My husband and I are buying a newly converted apartment in St Anns with a loan from Barclays .We like our St Anns conveyancing solicitor but Barclays advised that he's not listed on their approved list of member firms. We have to appoint a Barclays panel lawyer or retain our high street solicitor and fork out for a Barclays panel lawyer to act for them. This seems very unfair; Can we not simply insist that Barclays use our lawyer?
No, not really. The home loan issued to you is subject to its various provisions, a common one being that solicitors needs to be on the Barclays conveyancing panel. in the past, most mortgage companies had large numbers of solicitors on their panels: 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 lawyer to apply to be on the conveyancing panel for Barclays
The deeds to our house can not be found. The conveyancers who did the conveyancing in St Anns 5 years ago no longer exist. What are my options?
Assuming the title is registered the information relating to your proprietorship will be evidenced by the Land Registry under a Title Number. It is possible to execute a search at the Land Registry, locate your property and obtain current copies of the property title for a small fee. Where the property is Leasehold then the Land Registry will in most cases hold a file copy of the Registered Lease and again, a copy can be ordered for twenty pounds.
How does conveyancing in St Anns differ for new build properties?
Most buyers of new build property in St Anns come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in St Anns tend to buy the real estate, 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 St Anns or who has acted in the same development.
I decided to have a survey done on a property in St Anns ahead of retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies may not give a loan on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. If you e-mail us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in St Anns. Conveyancing will be smoother if you use a solicitor in St Anns especially if they are acquainted with such properties in St Anns.
I want to sublet my leasehold flat in St Anns. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
A small minority of properties in St Anns do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I am the registered owner of a split level flat in St Anns, conveyancing having been completed March 2003. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in St Anns with an extended lease are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease runs out on 21st October 2085
With only 60 years unexpired we estimate the premium for your lease extension to span between £20,000 and £23,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
Are the St Anns conveyancing lawyers identified as being on the mortgage company conveyancing panel, together with their details provided by the lender?
St Anns law firm practices and firms conducting conveyancing in St Anns themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the mortgage company directly.