Our lender has suggested a law firm on their panel based in Tufnell Park but I would rather choose a conveyancing lawyer in Tufnell Park local to me. Are you able to assist?
It is by no means the case that all Tufnell Park conveyancing practices are on all banks conveyancing panel. Do make the most of our search tool to locate a Tufnell Park conveyancing firm on the on the bank panel.
When it comes to mortgage companies such as Nationwide, do Tufnell Park conveyancers face a yearly amount to be on the conveyancing panel?
We are unaware of any bank fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
I can not work out if my bank requires a lease extension. I have telephoned my Tufnell Park bank branch on various occasions and was told it does not impact the mortgage offer and they would lend. My Tufnell Park conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. Who do I believe?
As long as the conveyancing practitioner is on the lender approved list, they must comply with the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Santander have agreed my mortgage in principle, my offer on a apartment in Tufnell Park has been agreed to, what are the next steps?
Your estate agent will need to know who your solicitors are (make sure the lawyers are on the lender’s approved list). Telephone Santander or your broker and complete any outstanding documentation. Santander will instruct a valuer who will get in touch with the estate agent or owners to arrange a time for the valuation to take place. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Santander will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Tufnell Park.
I have been told that property searches are the main reason for hinderance in Tufnell Park house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of holding up conveyancing in Tufnell Park.
Are there restrictive covenants that are commonly identified as part of conveyancing in Tufnell Park?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Tufnell Park. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
What are your top tips when it comes to choosing a Tufnell Park conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Tufnell Park conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Tufnell Park conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
Can they put you in touch with clients in Tufnell Park who can give a testimonial? How many lease extensions has the firm carried out in Tufnell Park in the last 12 months?
Having spent months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Tufnell Park. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We can put you in touch with a Tufnell Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Tufnell Park residence is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case affected 1 flat. The unexpired term as at the valuation date was 64.77 years.