My apartment in St Margarets is up for sale and I have a purchaser. Does my solicitor need to be on the Coventry BS conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
We are purchasing a apartment in St Margarets. I might seem paranoid but how we can trust a lawyer? At some point we have to send funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We have agreed to purchase a house in St Margarets. A rare aspect is that the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is HSBC your lawyer must follow the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for HSBC. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and conveyancers are required to report to HSBC where a lease does not meet these conditions. The conditions relate to the installation of panels on properties nationwide and is not isolated to St Margarets.
I am due to exchange contracts on my flat. I had a double glazing fitted in August 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Yorkshire BS are being a right pain. The St Margarets solicitor who is on the Yorkshire BS conveyancing panel is saying indemnity insurance will be fine but Yorkshire BS are insisting on a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS 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.
Will my lawyer be raising questions regarding flooding as part of the conveyancing in St Margarets.
Flooding is a growing risk for conveyancers dealing with homes in St Margarets. Plenty of people will buy a property in St Margarets, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, but there are a number of checks that may be undertaken by the purchaser or by their solicitors which can figure out the risks in St Margarets. The standard completed inquiry forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual question of the owner to find out whether the premises has historically flooded. In the event that flooding has previously occurred and is not notified by the owner, then a buyer could issue a claim for damages as a result of such an incorrect reply. A purchaser’s lawyers should also conduct an environmental search. This should disclose if there is any known flood risk. If so, further investigations should be carried out.
Due to the advice of my in-laws I had a survey completed on a house in St Margarets before instructing conveyancers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies may not give a loan on a flying freehold premises.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. If you e-mail us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in St Margarets. Conveyancing may be slightly more expensive based on your lender's requirements.
Am I better off to choose a St Margarets conveyancing solicitor based in the area that I am purchasing? We have a good friend who can deal with the legal formalities but they are based 200kilometers away.
The benefit of a high street St Margarets conveyancing practice is that you can attend the office to sign paperwork, hand in your ID and apply pressure on them where appropriate. Having local St Margarets know how is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were impressed that must trump using an unknown St Margarets conveyancing lawyer just because they are St Margarets based.
There are only 68 years left on my lease in St Margarets. I need to extend my lease but my freeholder is absent. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the landlord. On the whole a specialist would be helpful to conduct investigations and prepare a report which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court covering St Margarets.
I own a ground-floor 1950’s flat in St Margarets. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Most certainly. We can put you in touch with a St Margarets conveyancing firm who can help.
An example of a Lease Extension decision for a St Margarets residence is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case affected 1 flat. The number of years remaining on the existing lease(s) was 60.45 years.