Can you help? My Northwick Park conveyancer is assuring me that he is legally obliged toapply for Northwick Park conveyancing searches asthe firm are on the Lloydssolicitor panel. Is this really necessary?
You have limited options available to you. As you are obtaining a mortgage with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Northwick Park conveyancing searches.
My wife and I are purchasing a house in Northwick Park. It might be a silly question but how we can trust a lawyer? At some point we will need to deposit our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I happen to be the sole beneficiary of my late grandmother’s estate and I have everything in my name alone, including the house in Northwick Park. The Northwick Park property was put into my name in October. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership may be considered the same way as though I had purchased the property in October. Is the property unsalable for six months?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How practical a view mortgage companies take of it, depend on the mortgage company as this requirement principally exists to pick up on the purchase and immediately sell or the quick reselling of properties.
About to purchase house in Northwick Park. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Northwick Park conveyancing practitioner is on the Lloyds conveyancing panel.
I decided to have a survey done on a house in Northwick Park ahead of retaining lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies will refuse to grant a mortgage on this type of property.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. Should you wish to telephone us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Northwick Park. Conveyancing will be smoother if you use a solicitor in Northwick Park especially if they are accustomed to such properties in Northwick Park.
I am employed by a busy estate agency in Northwick Park where we have experienced a few flat sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Northwick Park conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Northwick Park conveyancing firm to assist?
Most definitely. We can put you in touch with a Northwick Park conveyancing firm who can help.
An example of a Lease Extension case for a Northwick Park residence is Ground Floor Flat 17 Frognal Avenue in April 2012. the Tribunal agreed that a value of £160,000 for the extended lease was appropriate. This case related to 1 flat. The unexpired residue of the current lease was 61.66 years.
Please set examples of specific benefits to choosing a local conveyancing practitioner in Northwick Park
Many buyers and sellers in Northwick Park choose a local property lawyer so that they can pop into the lawyer’s offices in the event that they have concerns, and to collect paperwork without using the post.
There is a distinct benefit when selecting a lawyer nearby to the premises you are purchasing, due to the in-depth knowledge of the area and possible local issues - but this is debatable. The majority of conveyancers undertaking their work through email and may be based anywhere.