My lawyer in Shadwell is not on the Nationwide Building Society Conveyancing Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are not on the Nationwide Building Society panel?
Your options are as follows:
- Carry on with your existing Shadwell solicitors but Nationwide Building Society will need to instruct a conveyancer on their list of acceptable firms. This will result in additional total legal fees as well as result in frustration.
- Get an alternative practitioner to act in the conveyancing, obviously checking they are on the Nationwide Building Society panel
I require fast conveyancing in Shadwell as I am faced with a deadline to sign on the dotted line within one month. A home loan is not required. Can I escape the need for conveyancing searches to save money and time?
As you are are a cash buyer you are at liberty not to have searches conducted although no solicitor would recommend that you don't. Drawing on our experience of conveyancing in Shadwell the following are examples of what can be revealed and therefore affect future saleability: Refused Planning Applications, Overdue Charges, Outstanding Grants, Road Schemes,...
My brother has urged me to instruct his conveyancers in Shadwell. Should I use them?
Much as we are happy to recommend a Shadwell conveyancing lawyer the best way to select a conveyancing lawyer is to seek recommendations from friends or relatives who have actually experience in using the conveyancer that you are considering.
I am a negotiator for a busy estate agency in Shadwell where we have experienced a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Shadwell conveyancing solicitors. Can you clarify whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have 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 extend the lease informally by agreement with the landlord 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 own a ground-floor 1950’s flat in Shadwell. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
Most definitely. We are happy to put you in touch with a Shadwell conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Shadwell residence is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case was in relation to 3 flats. The unexpired lease term was 101.61 years.
My nephew is just in the process of moving house, the home loan was agreed last week in principle. After the seller agreed the offer on the flat we rang the mortgage company to go forward with his. I was shocked to hear that banks do not accept all conveyancing practitioner, they need to be on their approved list, is this legal?
Banks tend to imposes restrictions either the type or the number of conveyancing firms on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Shadwell conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.