Am I correct in assuming that the fact that my solicitor in Camden is not on my lender's solicitor panel that there is a problem with the quality of his work?
That would more than likely be a wrong assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Camden conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
My Camden conveyancer has spotted a difference when comparing the surveyor’s assumptions in the home valuation report and what is revealed within the legal papers for the property. My lawyer says that he needs to ensure that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s stance correct?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Various online forums that I have frequented warn that are the primary cause of stalling in Camden conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Camden.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The conveyancers who dealt with the conveyancing in Camden 5 years ago are no longer around. What are my next steps?
Nowadays there are duplicates made of almost everything, and your conveyancer will know precisely where to find all the appropriate paperwork so you can buy or sell your property without any difficulty. Where duplicates are not available, your lawyer may be able to put in place insurance or indemnities against possible claims on the premises.
Last September I purchased a leasehold property in Camden. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have given up trying to purchase the freehold in Camden. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to judgment on the sum to be paid.
An example of a Lease Extension case for a Camden flat is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case affected 1 flat. The remaining number of years on the lease was 64.77 years.
Why is New Build conveyancing in Camden more expensive?
Conveyancing in Camden for newly converted or new build properties often involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as further investigations and contractual considerations.