I am nearing exchange of contracts for my maisonette in Mill Hill and the EA has just e-mailed to say that the buyers are appointing a new law firm. I am told that this is due to the fact that the bank will only deal with solicitors on their approved list. On what basis would a leading lender only deal with specific solicitors rather the firm that they want to select for their conveyancing in Mill Hill ?
Lenders have always had an approved set of law firms that can act for them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Mortgage companies blame a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms 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 buyers are not going to have any sway in the decision.
My lawyer in Mill Hill is not on the Virgin Money Solicitor Panel. Can I still continue with my prefered solicitor even though they are not on the Virgin Money approved list?
Your options are as follows:
- Complete the purchase with your existing Mill Hill solicitors but Virgin Money will need to instruct a conveyancer on their panel. This will result in additional overall legal fees and cause delays.
- Choose a new solicitor to act in the purchase, obviously checking they are Virgin Money approved.
- Try to convince your Virgin Money based solicitor to try to join the Virgin Money panel
I am due to move property in July. Should my conveyancing solicitor update the removal company on the day of completion. As an aside, can you suggest a removal company in Mill Hill. Conveyancing solicitor was found before I stumbled across your site.
On the afternoon of completion you can collect the keys from your property agent however this should only occur once the previous owners conveyancers inform the agent that they have the completion monies and the keys can be collected. Subsequently you will need to inform the removal company that you are ready to move in. We do not recommend a particular removal company but can help you choose a residential property solicitor in Mill Hill or a solicitor that specialises in conveyancing in Mill Hill.
I have been advised by my conveyancer that lack of building regulations insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Mill Hill?
The appropriate level of lack of building regulations indemnity insurance depends on who your lender is. It would differ for example between National Westminster Bank and Bank of Scotland. Conveyancing solicitors as opposed to members of the public take out such insurances.
We have agreed to purchase a house in Mill Hill. An unusual aspect is that the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is HSBC your lawyer must comply with the conveyancing requirements outlined in Section two of UK Finance Lenders’ Handbook for HSBC. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and lawyers are required to report to HSBC where a lease does not satisfy these provisions. The requirements relate to the installation of panels on properties countrywide and is not isolated to Mill Hill.
In what way can the Landlord & Tenant Act 1954 impact my business premises in Mill Hill and how can your lawyers assist?
The 1954 Act affords security of tenure to commercial tenants, granting the dueness to make a request to court for a new tenancy and continue in occupation when the lease reaches an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and help with commercial conveyancing in Mill Hill
I am in need of some leasehold conveyancing in Mill Hill. Before diving in I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Mill Hill - then the leasehold title will always include the basic details 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 tried to negotiate informally with with my landlord for a lease extension without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Mill Hill conveyancing firm to act on my behalf?
Where there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to determine the price.
An example of a Lease Extension matter before the tribunal for a Mill Hill property is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case was in relation to 1 flat. The unexpired lease term was 71.73 years.