I am nearing exchange of contracts for my ground floor flat in West Hampstead and the EA has just e-mailed to say that the buyers are swapping property lawyer. The excuse is that the mortgage company will only deal with property lawyers on their approved list. Why would a big named lender only engage with specific lawyers rather the firm that they want to appoint to handle their conveyancing in West Hampstead ?
UK lenders have always had panels of law firms they are content to work with, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lending institutions justify this action to a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
Having sold my house in West Hampstead last April yet the purchaser is SMS messaging me to moan that his conveyancer is waiting to hear from mysolicitor. What should my lawyer have done following completion?
Following your disposal your lawyer is obliged to forward the transfer deeds and all of the paperwork to the buyer’s solicitors. Where relevant, your solicitor must also evidence that the home loan has been discharged to the buyers solicitors. There are no post completion procedures unique to conveyancing in West Hampstead.
My colleague suggested that where I am purchasing in West Hampstead I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard West Hampstead conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about West Hampstead around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning West Hampstead.
Due to the input of my in-laws I had a survey completed on a house in West Hampstead in advance of instructing lawyers. I have been told that there is a flying freehold element to the property. My surveyor has said that some banks may not grant a mortgage on a flying freehold premises.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in West Hampstead. Conveyancing may be slightly more expensive based on your lender's requirements.
I am using a search engine for the phrase on line conveyancing in West Hampstead it reveals many solicitorsin the vicinity. How do I determine which is the suitable conveyancing solicitor for the sale of my house?
The ideal way of finding the right conveyancer is via trusted testimonial, so enquire of friends and relatives who have acquired a property in West Hampstead or the reputable estate agent or financial adviser. Fees for conveyancing in West Hampstead vary, so it's sensible to obtain a minimum of four costs illustrations from varying types of law firms. Be sure to secure confirmation that the fees are fixed.
What are your top tips when it comes to appointing a West Hampstead conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a West Hampstead conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with several firms including non West Hampstead conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be of use:
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Can they put you in touch with clients in West Hampstead who can give a testimonial? What are the legal fees for lease extension conveyancing?
Having spent months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in West Hampstead. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the LVT to determine the premium.
An example of a Lease Extension decision for a West Hampstead premises is Flat A 372 Cricklewood Lane in January 2013. The Tribunal decided that the premium for the extended lease should be £5,750.00 and that the terms of the new lease should be those set out in annex to the decsion This case was in relation to 1 flat.