We are intending to acquire a 1 bedroom flat in Northfield with a mortgage. We like our Northfield lawyer, however the bank advise she’s not on their "panel". We have to appoint one of the bank panel solicitors or continue with our Northfield lawyer as well as pay for one of their panel lawyers to act for them. We feel that this is inequitable; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Northfield conveyancing solicitor to apply to be on the conveyancing panel.
We see that you have a search directory listing firms on the Kent Reliance conveyancing panel. Do firms pay you a commission if I instruct them for our conveyancing in Northfield?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Northfield.
It has been 3 months since my purchase conveyancing in Northfield completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Northfield differ for newly converted properties?
Most buyers of new build or newly converted property in Northfield come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Northfield tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Northfield or who has acted in the same development.
Can you provide any advice for leasehold conveyancing in Northfield from the point of view of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Northfield can be avoided if you instruct lawyers as soon as you market your property and ask them to collate the leasehold information needed by the purchasers’ representatives. If you are supposed to have a share in the Management Company, you should ensure that you have the original share document. Obtaining a replacement share certificate can be a lengthy process and slows down many a Northfield home move. If a duplicate share is needed, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible. If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Northfield leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. If you dont have the approvals to hand you should not communicate with the landlord without checking with your conveyancer before hand. You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is below 75 years. It is therefore essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
Northfield Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
It would be sensible to find out as much as possible regarding the company managing the block as they can either make your life much easier or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to daily matters like the cleanliness of the communal areas. Enquire of prospective neighbours if they are happy with them. On a final note, investigate as to the dates that the maintenance fees are due to the relevant party and specifically what you get for your money. Best to be warned if redecorating or some other major work is due in the near future that will be shared by the leaseholders and will dramatically increase the the maintenance charges or require a specific invoice. What is the length of the lease?