My property lawyer in St John's Wood is not on the Nottingham Building Society Solicitor Panel. Is it possible for me to retain my family solicitor even though they are not on the Nottingham Building Society approved list?
Your options are as follows:
- Complete the purchase with your existing St John's Wood lawyers but Nottingham Building Society will need to instruct a lawyer on their list of acceptable firms. This will result in additional overall conveyancing fees and cause frustration.
- Choose an alternative lawyer to to deal with the conveyancing, remembering to check they are Nottingham Building Society approved.
- Try to convince your Nottingham Building Society solicitor to attempt to join the Nottingham Building Society panel
When it comes to lenders such as Principality, do St John's Wood conveyancers face a yearly amount 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 levy an administration fee to deal with the processing of the conveyancing panel submission.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my St John's Wood building society branch on various occasions and was told they are content with the situation and they will lend. My St John's Wood conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend in accordance with their published requirements. Who do I believe?
The solicitor has to follow the CML Handbook section two requirements for your lender. 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.
I am due to exchange contracts on my apartment. I had a double glazing fitted in December 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, UBS are being pedantic. The St John's Wood solicitor who is on the UBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but UBS are insisting on a building regulation certificate. Why do UBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that UBS have referred the matter to their valuer. The reason why UBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in St John's Wood differ for newly converted properties?
Most buyers of new build premises in St John's Wood approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in St John's Wood tend to buy 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 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 John's Wood or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in St John's Wood ahead of instructing conveyancers. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some banks may not issue a mortgage on a flying freehold home.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. Should you wish to telephone us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in St John's Wood. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in St John's Wood to see if the conveyancing will be more expensive.
I need to instruct a conveyancing practitioner in St John's Wood for my remortgage. Can I see a solicitor's complaints history with the profession’s regulator?
Members of the public can see documented Solicitor Regulator Association (SRA) determinations arising from inquisitions started on or after Jan 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA sometimes recorded call for training reasons.
I inherited a basement flat in St John's Wood. Given that I can not reach agreement with 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 John's Wood conveyancing firm who can help.
An example of a Lease Extension decision for a St John's Wood flat is Garden Flat 195 Goldhurst Terrace in May 2012. The Tribunal held in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease should be £60,855.00. This case related to 1 flat. The unexpired term was 60.16 years.
What are the common problems that you encounter in leases for St John's Wood properties?
Leasehold conveyancing in St John's Wood is not unique. All leases are drafted differently and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage Insurance obligations
You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Coventry Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.