The Harold Wood conveyancing lawyers that I appointed last week on my purchase in Harold Wood have suddenly shut down. I only went with them because I had to have a solicitor on the UBS conveyancing panel and my preferred Harold Wood lawyer was not. I paid them 275 plus VAT on account. What are my options?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the UBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
I opted to have a survey done on a property in Harold Wood prior to appointing conveyancers. I have been advised that there is a flying freehold element to the property. The surveyor has said that some banks tend refuse to give a mortgage on a flying freehold house.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you contact us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Harold Wood. Conveyancing will be smoother if you use a solicitor in Harold Wood especially if they are acquainted with such properties in Harold Wood.
I was advised by a number of selling agents in Harold Wood to find a property lawyer on your site. Is there a financial incentive for Estate Agents to recommend your services ahead of alternative conveyancing organisations?
We don’t make any referral fee for directing people our way. We found it would be just too difficult a fee as a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
My husband and I are first time buyers - agreed a price, yet the estate agent informed us that the owners will only move forward if we instruct the agent's preferred solicitors as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a local conveyancer accustomed to conveyancing in Harold Wood
We suspect that the seller is not behind this requirement. If they want ‘a quick sale', alienating a genuine purchaser is is going to put the whole deal at risk. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are ready to go, with finances in place © you are unencumbered (d) you wish to move quickly (e)but you intend to instruct your preferred Harold Wood conveyancing lawyers - as opposed tothe ones that will give their estate agent a introducer fee or hit his conveyancing thresholds demanded by HQ.
I am in need of some leasehold conveyancing in Harold Wood. Before diving in I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Harold Wood - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have had difficulty in negotiating a lease extension in Harold Wood. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to calculate the price.
An example of a Lease Extension decision for a Harold Wood residence is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The unexpired term as at the valuation date was 57.5 years.