The property market in Norwood Green is hotting up. What can I do to speed up matters?
Where the seller is applying pressure for your conveyancing it is advisable to make sure that your solicitor is familiar with the area as they will have local connections and insight. It is even conceivable that they would have handled previoushouses in the same street. Therefore consider using a Norwood Green conveyancing solicitor. In addition, make sure that the conveyancing firm is on the on the approved list for your mortgage company. It is said that 18% of Norwood Green conveyancing transactions are frustrated or derailed after finding out that a buyer’s solicitor was not on their banks member panel. This can often result in the transaction being frustrated by as much as three weeks. It is estimated that this issue affects approximately 100,000 home sales every year. Many Norwood Green conveyancing practices can not act for certain lenders so do check at the outset.
It is a dozen years since I bought my property in Norwood Green. Conveyancing lawyers have recently been retained on the sale but I am unable to locate my deeds. Is this a problem?
You need not be too concerned. Firstly the deeds may be with the mortgage company or they could be archived with the conveyancers who oversaw your purchase. Secondly in most cases the land will be registered at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring current official copies of the land registers. The vast majority of conveyancing in Norwood Green involves registered property but in the rare situation where your home is unregistered it adds to the complexity but is not insurmountable.
We are due to move home in May. Should my conveyancing solicitor update the removal company on the completion day. As an aside, can you recommend a removal company in Norwood Green. Conveyancing lawyer was organised before I stumbled across this website.
On the afternoon of completion you will need to collect the house keys from the property agent however this should only occur when the sellers lawyers advise the agent that they have the completion monies and the keys can be released. After that you can tell the removal men that they can start moving you in. As a matter of policy we do not suggest a specific removal organisation but can help you choose a residential property solicitor in Norwood Green or a solicitor with expertise in conveyancing in Norwood Green.
I have today made my last payment due on my mortgage with Lloyds. I assume I don't need a Norwood Green conveyancer on the Lloyds panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Norwood Green bank branch on numerous occasions and was advised it wasn't an issue and they would lend. My Norwood Green conveyancing solicitor - who is on the bank conveyancing panel- called and was told they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the lender approved list, they must adhere to the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the lender 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
What advice can you give us when it comes to finding a Norwood Green conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Norwood Green conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with several firms including non Norwood Green conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be useful:
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If the firm is not ALEP accredited then what is the reason? Can they put you in touch with clients in Norwood Green who can give a testimonial?
Following years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Norwood Green. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We can put you in touch with a Norwood Green conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Norwood Green residence is 6 Jessamine Road in August 2013. The Tribunals valuation (as annexed to the decision) calculated the amount payable as £18,355 for the freehold reversion This case was in relation to 2 flats. The remaining number of years on the lease was 72.39 years.
I need to review costs for conveyancing in Norwood Green from various conveyancing practitioner and decide on one. Am I right to get them to sit tight until I a suitable apartment to buy.
You should wait to get your conveyancing practitioner to start work and submit searches once the sales memorandum has been sent by the estate agent particularly as Norwood Green conveyancing searches are costly.