My wife and I are hoping to buy a house in Hadley Wood and have appointed a Hadley Wood conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Bank of Ireland have this afternoon contacted us to inform me that they have now hit a problem as our Hadley Wood solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Hadley Wood solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Can the conveyancing lawyers via your comparison service conduct conveyancing in Hadley Wood by way of an attended exchange?
There are a few conveyancing specialists carrying out one day exchanges. Do contact us to get a fee calculation and details as to dates.
Various web forums that I have visited warn that are the number one cause of stalling in Hadley Wood conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Hadley Wood.
As co-executor for the estate of my uncle I am selling a residence in Monmouth but I am based in Hadley Wood. My conveyancer (approximately 250 kilometers from merequires that I execute a statutory declaration before completion. Can you recommend a conveyancing solicitor in Hadley Wood to witness and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are based in Hadley Wood
I have just started marketing my garden flat in Hadley Wood. Conveyancing has not commenced, but I have just had a quarterly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as usual given that all rents and maintenance payments will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in Hadley Wood. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We are happy to put you in touch with a Hadley Wood conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hadley Wood flat is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The unexpired term as at the valuation date was 76 years.