I can't travel far from Covent Garden. I would like to know the reason why all Covent Garden conveyancing practitioners aren't included on all lender panels?

Banks normally restrict either the nature or volume of conveyancing firms on their panel. A common example of such criteria being that the organisation is required to have two or more partners. In addition to restricting the type of firm, some banks made a decision to restrict the size of their panel they use to represent them. It is worth noting that lenders have no accountability for the accuracy of conveyancing given by any Covent Garden property lawyer on their panel. Mortgage fraud was a key driver in the reduction of solicitor panels in the last decade notwithstanding that there are opposing assessments about whether solicitors sat at the center of that fraud. Statistics from HM Land Registry indicates that thousands of law practices only transact a couple of conveyances a year. Those advocating conveyancing panel culls ask why law firms should have any entitlement to be listed on a bank panel when it is evident that property law is not their speciality?

Is it possible for conveyancing in Covent Garden to be done inside 10 days?

In a situation where you are under pressure to exchange we would recommend that your conveyancer is familiar with the location as they will have local relationships and knowledge. It is possible that they would have conducted previousproperties in the same neighbourhood. You would be best advised to use a Covent Garden conveyancing firm. Second, make sure that the lawyer is on the lender panel. It is claimed that 18% of Covent Garden conveyancing deals are suspended or jeopardised after finding out that a buyer’s solicitor was not on their banks panel. In many cases this discovery resulted in the transaction being frustrated by almost three weeks. It is understood that this issue impacts in the region of one hundred thousand home sales annually. Many Covent Garden conveyancing practices can not represent certain lenders so do check as early as possible.

My brother-in-law has suggested I instruct a conveyancing solicitor in Covent Garden. I need to find out whether they are on the Santander approved list of lawyers. Can you advise?

The first thing you should do is phone the conveyancer and enquire if they can act for the bank. Alternatively you should call Santander who may be able to confirm.

What advice can you give us when it comes to choosing a Covent Garden conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Covent Garden conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Covent Garden conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:

If the firm is not ALEP accredited then why not? How familiar is the practice with lease extension legislation?

I am the proprietor of a garden flat in Covent Garden. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount due for a lease extension?

if there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to determine the price.

An example of a Freehold Enfranchisement case for a Covent Garden residence is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case related to 1 flat. The number of years remaining on the existing lease(s) was 73.26 years.

Why is New Build conveyancing in Covent Garden more expensive?

Conveyancing in Covent Garden for newly converted or new build properties usually involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as supplemental questions and contractual concerns.