We are buying a 3 bedroom flat in St Giles with a mortgage. We like our St Giles conveyancer, but the bank says she’s not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or retain our St Giles conveyancer as well as pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms 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 St Giles conveyancing lawyer to apply to be on the conveyancing panel.
Me and my partner are about to complete buying a house in St Giles but as a result of damage from the recent storms I have was able negotiate compensation from the current proprietors in the sum of £2k by way of a adjustment in the price. This was going to be dealt with as part of amending the contract however Nottingham will not permit this. Why were they involved?
Any property lawyer being on the Nottingham approved list is obliged to advise Nottingham of any amendments to the purchase price. If you prohibit your conveyancing practitioner to report the price change to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new lawyer for your conveyancing in St Giles.
My husband and I are buying a newbuild apartment in St Giles with a mortgage from Santander.We have a St Giles conveyancing practitioner but Santander informed us she’s not on their approved list of firms. It seems we are left with little choice but to instruct a Santander panel firm or retain our preferred solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Santander use our lawyer?
Unfortunately,no. The mortgage offered to you contains various provisions, one of which will be that solicitors must be on the Santander approved list. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could find 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for Santander
How does conveyancing in St Giles differ for newly converted properties?
Most buyers of new build property in St Giles approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in St Giles usually purchase the land, 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 property lawyers 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 accustomed to new build conveyancing in St Giles or who has acted in the same development.
My uncle has encouraged me to instruct his lawyers for conveyancing in St Giles. Do I take his guidance?
There are no two ways about it the best way to select a conveyancing lawyer is to get referrals from friends or family who have used the solicitor that you are are thinking of instructing.
I have just appointed agents to market my 2 bed apartment in St Giles. Conveyancing lawyers have not yet been instructed, however I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as you normally would given that all ground rent and service charges will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I inherited a first floor flat in St Giles. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
You certainly can. We are happy to put you in touch with a St Giles conveyancing firm who can help.
An example of a Lease Extension case for a St Giles flat is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The unexpired residue of the current lease was 66.8 years.