We note that you have a post code search directory listing law firms on the RBS conveyancing panel. Do firms pay you a commission if I appoint them for our own conveyancing in Wormwood Scrubs?
We are a listing service only for law firms wishing to communicate if they are on the RBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Wormwood Scrubs.
We're in Wormwood Scrubs, FTBs purchasing with a mortgage (lender is Coventry BS , and our solicitor is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
We previously instructed conveyancers locally in Wormwood Scrubs on the Leeds Building Society solicitor approved list. They have just invoiced me an additional charge for the legal aspects of the Leeds Building Society mortgage. Is this a supplemental conveyancing fee specified by Leeds Building Society?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your lawyer is entitled to levy a fee for this. This charge is not dictated by Leeds Building Society but by your Wormwood Scrubs property lawyer. Some firms on the Leeds Building Society panel will charge ’dealing with mortgage’ fee and others do not.
We have a mortgage agreed in principle with Santander. Wormwood Scrubs conveyancing solicitors are instructed. How long does it take for Santander to forward the offer to the solicitor?
There is no definitive answer here. Have Santander conducted the valuation? Have you informed Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Wormwood Scrubs building society branch on various occasions and was informed it wasn't a problem and they will lend. My Wormwood Scrubs conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. Who do I believe?
As long as the property lawyer is on the bank approved list, they must follow the CML Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Wormwood Scrubs?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Wormwood Scrubs. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am attracted to a two maisonettes in Wormwood Scrubs which have in the region of forty five years left on the leases. Will this present a problem?
There are no two ways about it. A leasehold apartment in Wormwood Scrubs is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of purchasers and lenders, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Wormwood Scrubs conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
We have reached the end of our tether in trying to purchase the freehold in Wormwood Scrubs. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Wormwood Scrubs conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Wormwood Scrubs property is 23 & 23A Collingbourne Road in June 2013. Tribunal was dealing with the assessment of the value of the freehold reversion and determination of the terms of the acquisition pursuant to an Order of District Judge Lightman dated 25 February 2013 vesting the freehold interest in the property in the applicant. The tribunal assessed the price of the freehold (to which any arrears or other sums due to the missing landlord under the leases should be added) at £81,638. This case was in relation to 2 flats. The unexpired term was 64.5 years.
Developers have recommended to me a property lawyer and I've received a quote from them. It's nearly three hundred pounds less expensive than my family Wormwood Scrubs lawyer. What's the catch?
Builders normally have lists of conveyancers who are quick and who know the developer’s contract and lawyer. Plenty of developers offer an incentive to select a preferred conveyancing practitioner for this reason, any increased fees can be avoided and a builder will not suggest a conveyancing warehouse and run the risk of having the conveyancing delayed when they want exchange in 28 days. The argument for not agreeing to use the suggested property lawyer is that they may be hesitant to fight for your interests for fear of alienating the developer. Where you have concerns that this may be the situation you should remain with your high street Wormwood Scrubs lawyer.