I am not well enough to travel far from Barking. Please spell out why all Barking lawyers are not on all bank panels?
Lenders highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. It led to banks and building societies removing less reputable firms from their panel of approved lawyers .
Various web forums that I have frequented warn that are the number one reason for stalling in Barking conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any slowing down conveyancing in Barking.
three months have elapsed since my purchase conveyancing in Barking completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Barking differ for new build properties?
Most buyers of new build premises in Barking come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is built. This is because house builders in Barking typically purchase the land, 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 Barking or who has acted in the same development.
I am on look out for some leasehold conveyancing in Barking. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Barking - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
After years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Barking. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Barking conveyancing firm who can help.
An example of a Lease Extension case for a Barking property is 240 Strone Road in January 2014. the tribunal held that the price to be paid for the freehold interest was£23,538 of which£13,017 is attributable to the ground floor flat and £10,521 to the first floor flat. This case related to 2 flats. The unexpired term as at the valuation date was 65.5 years.
Should local authority permission be needed to change a house into a couple of appartments in Barking? This has occurred to a property opposite to my home in Barking and was unaware of the conversion until after the works were finished.
Planning Permission yes. Building Reg Approval yes.