Me and my fiance are planning to acquire a 2 bedroom flat in Northfield with a mortgage. We like our Northfield lawyer, but the bank says he's not on their "panel". It appears that we have little choice but to use one of the bank panel solicitors or keep our Northfield conveyancing practitioner as well as pay for one of their panel ones to represent them. This feels very unfair; are we not able to demand that the bank use our Northfield conveyancing practitioner ?
No, not really. The mortgage offered to you 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. A further alternative is for your Northfield conveyancing solicitor to apply to be on the conveyancing panel.
The Northfield conveyancing firm handling our Northfield conveyancing has identified a discrepancy when comparing the assumptions in the valuation survey and what is revealed within the conveyancing documents. My solicitor says that he is obliged to check that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s approach appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Due to the advice of my in-laws I had a survey completed on a house in Northfield prior to instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some banks may refuse to grant a loan on such a house.
It varies from the lender to lender. Santander has different requirements from Nationwide. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Northfield. Conveyancing may be slightly more expensive based on your lender's requirements.
What tools are available to search for a Northfield solicitor on the Britannia conveyancing panel? I am a keen cyclist and am willing to travel upto 10kilometers to meet the solicitor.
You can use the tool on this website. Please choose the mortgage company and your location and you will see a number of Northfield conveyancing lawyers based on proximity. We have detailed some Northfield conveyancing firms at the bottom of this page and you can telephone them to check whether they are on the Britannia member panel
I wish to let out my leasehold flat in Northfield. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Some leases for properties in Northfield do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I purchased a basement flat in Northfield, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Northfield with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 levied per year. The lease terminates on 21st October 2085
You have 59 years left to run we estimate the price of your lease extension to range between £20,900 and £24,200 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.