My wife and I are buying a 2 bedroom apartment in Fairlop with a mortgage. We would like to retain our Fairlop conveyancer, but the mortgage company advise she’s not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Fairlop conveyancer as well as pay for one of their panel lawyers to represent them. This feels very unfair; can we not require that the bank use our Fairlop conveyancing practitioner ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Fairlop conveyancing solicitor to apply to be on the conveyancing panel.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Does this mean I have to use their panel solicitor as I would much rather instruct a local conveyancing solicitor in Fairlop?
You should check but the the likelihood is that appoint one of their panel conveyancers if you take up the "fee-free" incentive. Call the lender and explore if they make available a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Fairlop.
I have been told that property searches are a common cause of obstruction in Fairlop conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Fairlop.
I have todaybecome aware that Stirling Law have been shut down. They carried out my conveyancing in Fairlop for a purchase of a freehold house 12 months ago. How can I check that the property is in my name in the name of the former proprietor?
The quickest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Fairlop conveyancing specialists.
What are your top tips when it comes to finding a Fairlop conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Fairlop conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with two or three firms including non Fairlop conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be helpful:
If the firm is not ALEP accredited then why not?
I am the registered owner of a two-bedroom flat in Fairlop. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?
Where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the price payable.
An example of a Lease Extension matter before the tribunal for a Fairlop premises is 104 Coventry Road in July 2014. The Tribunal determined that the lease extension permium should be £22,896.15 This case related to 1 flat. The unexpired term was 60.29 years.