Unfortunately I am unable to travel far from Denham. I would like to know the reason why all Denham property lawyers are not on all lender panels?
Pre- 2008 most banks had an attitude to risk which differs from the current day. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the lawyers on your panel. Consequently, banks have since looked to extract more data from law firms about their operations and the individuals who work for them and set certain criteria such as completing a minimum amount of transactions. Hundreds of firms have found themselves excluded from lender panels even though they had an exemplary track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the criteria of volume of transactions the mortgage companies required.
Do all mortgage companies provide you with an approved list of Denham conveyancing solicitors? How do you know who is on the UBS conveyancing panel?
Denham conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.
I am purchasing a terraced house in Denham. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Denham 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 Denham.
My wife and I purchased a semi-detached Victorian property in Denham. Conveyancing solicitor acted for me and Bank of Ireland. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold under the exact same address. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Denham and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing practitioner who completed the work.
Do you have any advice for leasehold conveyancing in Denham with the intention of expediting the sale process?
- Much of the delay in leasehold conveyancing in Denham can be bypassed if you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers. The majority of landlords or Management Companies in Denham levy fees for providing management packs for a leasehold home. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Denham. A minority of Denham leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. You believe that you know the number of years remaining on your lease but you should double-check by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore essential 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 premises on the market for sale. If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to pay 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 better to present the dispute as over as opposed to unsettled.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Denham conveyancing firm to assist?
You certainly can. We are happy to put you in touch with a Denham conveyancing firm who can help.
An example of a Lease Extension case for a Denham premises is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case was in relation to 3 flats. The remaining number of years on the lease was 71 years.