I am in the throes of porting my current homeowner loan to a BTL Virgin Money mortgage. I have been informed by my broker that I must appoint a lawyer as part of the process. I spoke to my past Parsons Green conveyancing firm who dealt with the legals when I originally bought the house. The fee estimate provided of £575 plus disbursements has taken me by surprise as I am not require purchase conveyancing - it’s simply a bog-standard refinance.
The estimate fees are a tad high. Where you are content to expend time contrasting prices you might get the conveyancing a bit cheaper by say £100 plus VAT. On the other hand, providing that you were satisfied with the service the firm offered you couldlive to regret choosing an a cheaper conveyancer. Don't forget to be sure the solicitor can represent Virgin Money. You can utilise our search tool to choose a Parsons Green conveyancing firm on the Virgin Money approved list of lawyers, which can often include conveyancing solicitors in Parsons Green.
we are a couple who are hoping to buy a newly converted apartment in Parsons Green with a mortgage from Barnsley Building Society.We use our Parsons Green conveyancing solicitor but Barnsley Building Society informed us her practice is not on their "panel". It seems we are left with little choice but to instruct a Barnsley Building Society panel firm or retain our local solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Barnsley Building Society use our lawyer?
Unfortunately,no. The mortgage offered to you contains terms and conditions, a common one being that solicitors needs to be on the Barnsley Building Society solicitor panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Barnsley Building Society
How can the Landlord & Tenant Act 1954 affect my business offices in Parsons Green and how can you help?
The 1954 Act provides protection to business tenants, giving them the legal entitlement to apply to court for a new tenancy and continue in occupation at the end of the lease term. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Parsons Green
I am a negotiator for a long established estate agency in Parsons Green where we see a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Parsons Green conveyancing firms. Could you clarify whether the vendor of a flat can instigate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the proprietor of a a ground floor purpose built flat in Parsons Green. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to arrive at the price payable.
An example of a Freehold Enfranchisement decision for a Parsons Green property is 66 and 66a Wardo Avenue in November 2012. The Tribunal determined that the sum of £8,048 is payable by the Applicants in respect of the price for the freehold of the property This case affected 2 flats. The unexpired residue of the current lease was 93 years and 162 years.
Our solicitor in Parsons Green has uncovered a defect with the lease for the property we are purchasing in Parsons Green. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor has advised that as he is on the bank conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the mortgage company?
Just because you have a mortgage offer from the lender does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Parsons Green conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the bank are the client. These conveyancing instructions must be adhered to by the lender conveyancing panel who has to balance acting for you and the bank