Finally the sale completed on my house in Cheam last May yet the purchaser is telephoning me to moan that their lawyer is waiting to hear from mine. What should my lawyer have done following completion?
Following your house sale your lawyer is obliged to deliver the transfer documentation and all of the paperwork to the purchaser's solicitors. Where relevant, your solicitor must also send confirmation that the legal charge in favour of the lender has been paid off to the purchasers conveyancers. There is unlikely to be post completion tasks just for conveyancing in Cheam.
My Conveyancer in Cheam is not on the Yorkshire Building Society Conveyancing Panel. Can I still continue with my prefered solicitor notwithstanding that they are not on the Yorkshire Building Society panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your preferred Cheam lawyers but Yorkshire Building Society will need to instruct a conveyancer on their panel. This will result in additional overall conveyancing fees as well as result in frustration.
- Get a new practitioner to act in the conveyancing, remembering to check they are on the Yorkshire Building Society panel
Me and my brother have a 4 bedroom Edwardian property in Cheam. Conveyancing lawyer acted for me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold under the exact same address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cheam and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing lawyer who conducted the conveyancing.
I'm buying my first flat in Cheam with the aid of help to buy. The sellers would not budge the amount so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not to tell my solicitor about the extras as it may jeopardize my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Looking forward to exchange soon on a basement flat in Cheam. Conveyancing solicitors have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Cheam should include some of the following:
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Changes to the premises The unexpired lease term. You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years Ground rent - what is payable and when you need to pay, and also know whether this will change in the future The physical ownership of the demise. This could be the flat itself but might include a loft or storage are if appropriate. You should have a good understanding of the insurance obligations
I am the registered owner of a two-bedroom flat in Cheam. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
Where there is a absentee landlord or where there is dispute 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 decide the sum to be paid.
An example of a Lease Extension decision for a Cheam flat is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The unexpired residue of the current lease was 60.43 years.
Our bank agreed in principle to grant us a mortgage. We are using a long established conveyancer in Cheam two days ago. This morning, our mortgage adviser contacted us saying that the mortgage company said that we cannot use our solicitor as they aren't on their 'approved list'. As FTB's, we had no idea that the mortgage company had some control over our choice Is this allowed?
You are at liberty to use any conveyancing solicitor you prefer to select including the said conveyancer in Cheam however if your bank aren't happy with them you would have to pay additional cost so the bank can retain their own solicitors as well to protect their interest. sometimes it is conceivable that your preferred conveyancing firm to get included on to the mortgage company list of approved firms. Do make the most of internet search facilities such as lenderpanel.com to find a conveyancing solcitor in Cheam on the bank panel. You can go into your high street lender branch in Cheam. They can recommend conveyancing solicitors in Cheam on the panel for your mortgage company.