I can't travel far from Borough Green. Please explain the reason why all Borough Green conveyancing practitioners are not on all mortgage company panels?
Lenders point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The elimination 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 resulted in mortgage companies culling a number of firms off their panel of approved solicitors .
3 months have elapsed following my purchase conveyancing in Borough Green completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 property 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Borough Green prior to retaining lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies will refuse to grant a loan on this type of property.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Borough Green. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been pointed in your direction by a number of selling agents in Borough Green to get a quote from a conveyancer on your site. Is there a financial upside for Estate Agents to promote your lawyers over and above a competitor’s?
We refuse to make any referral fee for sending work in our direction. We thought it would be too underhand to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
I need to instruct a conveyancing lawyer in Borough Green for my house move. Is it possible to review a firm’s record with the profession’s regulator?
One can review presented Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The SRA sometimes recorded call for training requirements.
I am a negotiator for a busy estate agent office in Borough Green where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Borough Green conveyancing firms. Please can you confirm whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is 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 buyer.
Leasehold Conveyancing in Borough Green - A selection of Questions you should ask Prior to Purchasing
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If a Borough Green lease has fewer than 80 years it will affect the marketability of the apartment. It is worth checking with your mortgage company that they are content with the length of the lease. A short lease means that you will most likely have to extend the lease sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you will be required to have been the owner of the property for two years in order to be legally able to extend the lease. It is important to be aware whether fixing the lift or some other major work is pending that will be shared between the leaseholders and will materially impact the level of the service fees or require a one off payment. The best form of lease arrangement is a share of the freehold. In this situation the tenants have control and even though a managing agent is often employed if the building is larger than a house conversion, the managing agent is directed by the tenants.