I am 4 weeks into the sale of my flat in Cricklewood and the estate agent has just e-mailed to say that the purchasers are swapping solicitor. The excuse is that the mortgage company will only work with solicitors on their approved list. On what basis would a major mortgage company only engage with certain lawyers rather the firm that they want to choose to handle their conveyancing in Cricklewood ?

Mortgage companies have always had panels of law firms they are willing to work with, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.

Lenders point to the increase in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any impact on this.

I am acquiring a property without a mortgage in Cricklewood. I have lived for the previous 15 years in Cricklewood. Conveyancing searches are expensive. Given that I know the road and vicinity intimately must I have all the conveyancing searches?

Provided that you do not need a home loan, then almost all of the Cricklewood conveyancing searches are optional. Your lawyer will try and sway you, no-doubt strongly, that you should have searches carried out, but she has a professional duty to do this. Do consider; if you are intend to sell the house in the future, it could be of relevance to your future purchaser what the searches disclose. On occasion premises with no practical issues can still reveal unexpected search results. A competent conveyancing solicitor in Cricklewood should be able to give you some helpful guidance concerning this.

How does conveyancing in Cricklewood differ for newly converted properties?

Most buyers of new build or newly converted property in Cricklewood come to us having been asked by the builder to exchange contracts and commit to the purchase even before the property is built. This is because builders in Cricklewood tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Cricklewood or who has acted in the same development.

What does commercial conveyancing in Cricklewood cover?

Cricklewood conveyancing for business premises incorporates a wide range of guidance, provided by qualified solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.

My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Cricklewood. Can this matter be resolved via the Leasehold Valuation Tribunal?

You certainly can. We are happy to put you in touch with a Cricklewood conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Cricklewood flat is 73 and 73a St. Pauls Avenue in October 2013. the Tribunal held in accordance with section32 and Schedule 6 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the enfranchisement was
fifty three thousand three hundred and sixty one pounds (£53,361.00) This case affected 2 flats. The unexpired term was 64.61 and 67.18.

Are there frequently found deficiencies that you see in leases for Cricklewood properties?

Leasehold conveyancing in Cricklewood is not unique. All leases are individual and legal mistakes in the legal wording can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

Repairing obligations to or maintain elements of the building Service charge per centages that don't add up correctly leaving a shortfall

You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Chelsea Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.