Am I correct in assuming that the fact that my conveyancer in Blackfen is not listed on my lender's solicitor panel that there is a problem with the quality of his work?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Blackfen conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
Do I have to pop into the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Blackfen so that I can attend their offices if necessary.
These days approved lawyers for banks carry out the vast majority of work via the post, e-mail or over phone calls. This enables them to undertake the conveyancing transaction no matter where you live in England or Wales. Nevertheless you should see if you can still book an appointment to visit conveyancing lawyer if you prefer.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one close by in Blackfen I like with amenity areas and transport links in the vicinity, however it only has 61 years on the lease. There is not much else in Blackfen in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
I am tempted by the attractive purchase price for a two apartments in Blackfen both have in the region of 50 years left on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Blackfen. The lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the value of the lease deteriorates and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field.
Having spent years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Blackfen. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a Blackfen conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Blackfen residence is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.
We had our mortgage agreed in principle yesterday with our lender. We instructed a high street conveyancer in Blackfen two days ago. Today, our financial adviser contacted us saying that the mortgage company said that we cannot use our solicitor as they aren't on their panel. As FTB's, we did not have a clue that the bank had a say Is this permitted?
You are at liberty to select any conveyencer you want to instruct for your conveyancing in Blackfen however if they are not on the your lender's approved list you will have to incur an extra fee so the mortgage company can appoint their own solicitors as well to protect their interest. On occasion it is conceivable that your preferred conveyancing firm to get added to the lender list of approved firms. Do make the most of web-based tools such as lenderpanel.com to find a conveyancing solcitor in Blackfen on the lender panel. You can go into your local mortgage company branch in Blackfen. They can recommend conveyancing solicitors in Blackfen on the panel for your lender.