My partner and I are purchasing an apartment in Wood Green. My lawyer is not listed on the lender conveyancing panel. Am I still permitted to continue with my Wood Green conveyancing solicitor notwithstanding that they are not on the mortgage company panel?
You will need to instruct a lawyer to deal with the formalities when you take out a mortgage to purchase your property. They will carry out all the appropriate legal checks on the property, ensuring that you will be registered as proprietor and ensure that all the required mortgage documentation is dealt with. One may appoint a Wood Green solicitor of your choice. Nevertheless, where the property lawyer appointed is not a member of the lender approved list supplemental charges will be levied as separate legal representation will be need by the lender. Bank panel applications may be submitted, so provided your conveyancer has not previously applied for membership they should take the chance to apply.
I am considering applying for a RBS mortgage for purchase of a new build (under development) in Wood Green with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for RBS ?
There is nothing to stop you using your solicitor, but RBS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I opted to have a survey completed on a house in Wood Green before retaining conveyancers. I have been told that there is a flying freehold element to the property. The surveyor advised that some mortgage companies may not give a mortgage on such a property.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wood Green. Conveyancing will be smoother if you use a solicitor in Wood Green especially if they are familiar with such properties in Wood Green.
I am looking to sell my property. My previous solicitors has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Wood Green if that makes a difference.
Please use our search tool to help you find a solicitor for your conveyancing in Wood Green. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
Do you have any advice for leasehold conveyancing in Wood Green from the point of view of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Wood Green can be bypassed where you instruct lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers. If you have had any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to unsettled. You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 75 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Wood Green state that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the approvals in place you should not contact the landlord without checking with your solicitor in advance.
Despite our best efforts, we have been unsuccessful in trying to reach an agreement for a lease extension in Wood Green. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to calculate the amount due.
An example of a Lease Extension matter before the tribunal for a Wood Green flat is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case related to 1 flat. The unexpired lease term was 81.79 years.
Do online conveyancing organisations undertake everything a local Wood Green solicitor does or do I still need to retain a solicitor for the final stages for my conveyancing in Wood Green?
Where you choose an online conveyancer they should undertake all the work your Wood Green conveyancer would cover.