My fiance and I are hoping to buy a flat in Hendon and have instructed a Hendon conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. The Mortgage Works have this afternoon contacted us to advise us that they have now hit a problem as our Hendon lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Hendon solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
A relative suggested that where I am buying in Hendon I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Hendon conveyancing searches. It is a large report of more than thirty pages, listing and detailing significant information about Hendon around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Hendon Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information regarding Hendon.
I completed on my apartment on 14 August and my personal details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Hendon advises it would be dealt with in less than a month. Are transfers in Hendon particularly slow to register?
There is nothing unique about conveyancing in Hendon registration formalities. As opposed to being determined by geographic area, timescales can adjust according to the party submitting the application, whether it is in order and whether the Land registry need to notify any third persons or bodies. At present roughly three quarters of submission are fully addressed in less than three weeks but some can be subject to protracted delays. Historically registration is effected after the purchaser is living at the premises so registration formalities is not always top priority yet if there is a degree of urgency associated with the registration then you or your solicitor could communicate with the Registry to express the reasoning for an expedited registration.
I was pointed in your direction by a few selling agents in Hendon to choose a property lawyer on your site. Is there a financial inducement for Estate Agents to recommend your lawyers over a competitor’s?
We refuse to offer any referral fee for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Hendon. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Hendon ?
Most houses in Hendon are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Hendon so you should seriously consider looking for a Hendon conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.
I am the registered owner of a ground floor flat in Hendon. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Hendon conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Hendon premises is First Floor Flat 61 Wilberforce Road in March 2014. The premium payable was £10,130 and the case was remitted back to the Willesden County Court to effect the Vesting Order (Claim No 3W103100). This case affected 1 flat. The unexpired lease term was 71 years.