How do I check that the solicitor carrying out my conveyancing in The Park is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for HSBC Bank thus spending £175.00 in further conveyancing fees.
Feel free to take advantage of the search tool on this site. Please choose the lender and type ‘The Park’ or your preferred area and you will be presented with a number of lawyer based in The Park or by proximity to you.
Forgive me if this question is silly but I am unseasoned as FTB of a ground floor flat in The Park. Do I collect the keys to the premises on completion from my solicitor? If this is the case, I will find a High Street conveyancing solicitor in The Park?
On the day of completion you will not be required to attend the conveyancers office in The Park. Your solicitors will arrange to send the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you should be able to receive the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
I happen to be the single beneficiary of my late father’s estate with all property in now in my sole name, including the my former home in The Park. Conveyancing formalities meant that the Land Registry date was in January. I plan to dispose of the house. I understand that there is a CML six month 'rule', which means that my proprietorship could be treated the same way as though I had purchased the property in January. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. Most banks would take a pragmatic view as this obligation is primarily there to capture the purchase and immediately sell or the wholesaling and assigning of property.
Can you point me to a directory of Lloyds panel conveyancers in The Park on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. Very few lenders make their panel listings viewable over the internet. Where you are looking for a The Park lawyer on the Lloyds please use our facility.
Various online forums that I have frequented warn that are the number one cause of obstruction in The Park conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of holding up conveyancing in The Park.
Do you have any advice for leasehold conveyancing in The Park with the intention of expediting the sale process?
- Much of the delay in leasehold conveyancing in The Park can be avoided where you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation needed by the buyers’ representatives. If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in The Park state that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord approving such works. Where you fail to have the paperwork in place you should not contact the landlord without checking with your conveyancer in the first instance. You may think that you are aware of the number of years left on your lease but you should double-check via your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. The majority of landlords or managing agents in The Park levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in The Park. A minority of The Park leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
The Park Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying
You should want to find out as much as possible regarding the company managing the building as they will either make living at the property much simpler or uncomfortable. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day matters such as the tidiness of the common parts. Ask other people what they think of them. On a final note, investigate as to the dates that the maintenance charges are due to the relevant party and specifically what you get for your money. It is important to be aware whether changing the roof or some other major work is coming up that will be shared by the leasehold owners and will dramatically increase the the service charges or necessitate a one time payment.
Should one remove a departed person's name from the title register for a house in The Park?
Where a The Park property is co-owned and one of the proprietors dies, the name will not immediately be removed from the Land Registry title. It is not necessary to remove their name as in the event of a sale you would just need to evidence why the joint proprietor is missing from the transfer, such as a grant of probate.
With the aim of making the sale conveyancing simpler in the future you may apply to have the deceased name erased from the title by submitting an application to the land registry with evidence of the death. There is no fee from the Registry for this service.