I am not in a position to travel far from West London. I would like to know the logic why all West London property lawyers are not on all lender panels?
Banks highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. It resulted in banks and building societies culling less reputable firms from their panel of approved property lawyers .
I am buying a right to buy a flat in West London. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in West London you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in West London.
When it comes to lenders such as Kent Reliance, do West London lawyers incur an annual charge to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
After much negotiation I have agreed a price on an apartment in West London. My mortgage broker pressured me to appoint their solicitor. I paid an advanced payment of £200. Shortly after, the conveyancer contacted me to say that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Principality have agreed my home loan in principle, my offer on a property in West London has been agreed to, what are the next steps?
The estate agent will wish to be informed of your conveyancer's details (ensure that the solicitors are on the lender’s panel). Call up Principality or the financial adviser and finish off any relevant documentation. Principality will sellect a valuer who will get in touch with the selling agent or seller to arrange an appointment. Once carried out (assuming no problems) it takes about a week to get a mortgage offer. Principality will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in West London.
I moved into my flat on 10 May and my personal details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in West London advises it would be dealt with in less than a month. Are titles in West London particularly slow to register?
As far as conveyancing in West London is concerned, registration is no quicker or slower than the rest of the country. Rather than based on location, timeframes can differ depending on the party submitting the application, whether there are errors and if the Land registry communicate with any 3rd parties. As of today approximately 80% of submission are completed within 12 days but some can be subject to longer hold-ups. Historically registration takes place after the buyer has moved in to the property so an expedited registration is not typically primary concern yet where there is a degree of urgency associated with the registration then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.
I am thinking of appointing a conveyancing practitioner in West London for my purchase. Is it possible to check a solicitor's complaints history with the legal regulator?
Members of the public may read documented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Visit Check a solicitor's record. For records Pre 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA sometimes recorded call for training requirements.
We have reached the end of our tether in trying to purchase the freehold in West London. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the premium.
An example of a Lease Extension matter before the tribunal for a West London flat is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines 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 for each Property should be £12,350.00. This case related to 2 flats. The remaining number of years on the lease was 72.39 years.
Are there common problems that you witness in leases for West London properties?
Leasehold conveyancing in West London is not unique. All leases are unique and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
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A duty to insure the building Maintenance charge proportions which don’t add up to the correct percentage
You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Leeds Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.