I am one month into the sale of my home in Marshalls Park and the estate agent has just e-mailed to warn that the purchasers are appointing a new conveyancer. The excuse is that the mortgage company will only deal with property lawyers on their conveyancing panel. Why would a major lender only work with specific solicitors rather the firm that they want to choose to handle their conveyancing in Marshalls Park ?
Lenders have always had panels of law firms that can represent them, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions attribute this action to a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
It is 10 years ago since I purchased my property in Marshalls Park. Conveyancing solicitors have recently been instructed on the sale but I can't track down the deeds. Is this a major issue?
You need not be too concerned. Firstly the deeds may be retained by your lender or they could be in the possession of the solicitor who oversaw the purchase. Secondly the likelihood is that the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Almost all conveyancing in Marshalls Park involves registered property but in the unlikely event that your property is unregistered it is more problematic but is resolvable.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Marshalls Park. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Marshalls Park
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are architect prepared.
In what way does the Landlord & Tenant Act 1954 affect my business property in Marshalls Park and how can you help?
The particular law that you refer to gives security of tenure to commercial leaseholders, giving them the legal entitlement to make a request to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act for protection and help with commercial conveyancing in Marshalls Park
Looking forward to sign contracts shortly on a garden flat in Marshalls Park. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Marshalls Park should include some of the following:
Ground rent - what is due and when you need to pay, and be on notice if this will change in the future Whether your lease caters for for a reserve fund? What options are open to you if another tenant in the building is in violation of a provision in their lease? Setting out your legal entitlements in relation to the communal areas in the block.E.G., does the lease permit a right of way over an accessway or hallways? Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
Marshalls Park Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
Are there any major works in the near future that could increase the maintenance fees? It is important to be aware if changing the roof or some other major work is coming up to be shared between the leasehold owners and will materially impact the level of the maintenance costs or necessitate a specific invoice. What restrictions are contained in the Marshalls Park Lease?