I am not well enough to travel far from Chipstead. Is there a reason why all Chipstead lawyers are not on all mortgage company panels?
As inequitable as it may seem for banks to restrict who can act for them, from the public’s or solicitor’s standpoint, the the contrary view is that banks are becoming ever more anxious and feel it imperative to protect them from mortgage fraud. As a consequence of this concern mortgage companies are limiting their conveyancing panel to a size that they are happy to control.
Having sold my house in Chipstead last June but my buyer keeps e-mailing me complaining that his solicitor is waiting to hear from mylawyer. What are the post completion sale formalities now that I have sold?
After completion of your sale your solicitor is committed to forward the transfer deeds and all of the paperwork to the purchaser's conveyancer. Depending on the transaction, your conveyancer must also confirm that the home loan has been redeemed to the purchasers conveyancers. There is unlikely to be post completion steps unique to conveyancing in Chipstead.
We wanted to use a conveyancing solicitor in Chipstead for our home move. Our financial adviser has since notified us that our bank The Royal Bank of Scotland won't deal with them. Why is this not regarded as unfair competition?
Lenders normally restrict either the category or the amount of conveyancing firms on their member panel. Typical examples of such criteria being that a law practice must not be a sole practitioner. As well as restricting the profile of firm, some have limited the amount of firms they use to act for them. Be aware that The Royal Bank of Scotland have no responsibility for the quality of advice provided by any member of The Royal Bank of Scotland Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels since 2008 even though there are differing views regarding the level of solicitor engagement in some of that fraud. Figures from the Land Registry indicate that hundreds of law firms, including some in or near Chipstead only carry out very few conveyances per annum.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Chipstead is the location of the property. Can you shed any light on this issue?
Flying freeholds in Chipstead are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Chipstead you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chipstead may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Should I be wary by estate agents that I am dealing with are encouraging me to use a web based conveyancing firm as opposed to a High Street Chipstead conveyancing company?
As with lots of service providers, often suggestions from relatives can be extremely useful or valuable. Nevertheless there are lots of people with a vested interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all recommend lawyers to retain. Sometimes the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there behind the scenes commercial relationship behind the endorsement. You have the discretion to select your own lawyer. However, bear in mind that the majority of lenders have an approved list of conveyancers you have to use for the mortgage aspect of your home move.
I am tempted by the attractive purchase price for a two maisonettes in Chipstead both have in the region of forty five years left on the lease term. Do I need to be concerned?
There are plenty of short leases in Chipstead. The lease is a right to use the premises for a period of time. As the lease gets shorter the marketability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field.
After years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Chipstead. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We are happy to put you in touch with a Chipstead conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Chipstead residence is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case related to 3 flats. The remaining number of years on the lease was 75 years.