Me and my fiance are intending to buy a 2 bedroom flat in Earlsfield with a mortgage. We like our Earlsfield lawyer, but the mortgage company says she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or keep our Earlsfield lawyer as well as pay for one of their panel lawyers to act for them. This seems very unfair; can we not demand that the lender use our Earlsfield lawyer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Earlsfield conveyancing lawyer to apply to be on the conveyancing panel.
I am buying a property mortgage free in Earlsfield. I have been living for the last dozen years in Earlsfield. Conveyancing searches are exorbitant. As I know the road and vicinity intimately must I have all the conveyancing searches?
Provided that you do not need a home loan, then all but one or two of the Earlsfield conveyancing searches are optional. Your conveyancer will 'advise', no-doubt strongly, that you should have searches completed, but she has a professional duty to do this. Do take into account; if you are intend to dispose of the house at a future date, it will likely be be of relevance to your future buyer what the searches determine. Sometimes houses with no practical issues can still reveal negative search results. A good conveyancing solicitor in Earlsfield should be able to give you some helpful guidance in this regard.
My wife and I are purchasing a property in Earlsfield. It might be a silly question but how we can trust a conveyancer? At some point we have to deposit money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
After weeks of negotiation I have agreed a price on a house in Earlsfield. My mortgage broker pressured me to appoint their conveyancer. I paid an upfront payment of £175. A few days later, the lawyer contacted me sheepishly admitting that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Bank of Ireland have agreed my home loan in principle, my bid on a apartment in Earlsfield has been agreed to, what happens next?
Your property agent will wish to be informed of your conveyancer's details (make sure the lawyers are on the lender’s approved list). Telephone Bank of Ireland or your financial adviser and finish off any appropriate paperwork. Bank of Ireland will appoint a valuer who will get in contact with the selling agent or seller to schedule a time for the valuation to occur. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Bank of Ireland will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Earlsfield.
4 months have elapsed since my purchase conveyancing in Earlsfield concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 asset 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.
I am buying a new build flat in Earlsfield. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Earlsfield
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan.
Can you provide any advice for leasehold conveyancing in Earlsfield with the intention of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Earlsfield can be avoided if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers’ solicitors. Many freeholders or Management Companies in Earlsfield levy fees for providing management packs for a leasehold home. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Earlsfield. If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Obtaining a re-issued share certificate can be a time consuming formality and delays many a Earlsfield home move. Where a duplicate share certificate is necessary, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later. A minority of Earlsfield leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers.
Following years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Earlsfield. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We can put you in touch with a Earlsfield conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Earlsfield flat is 35 Trewint Street in February 2012. The Tribunal arrived at a premium of £32 425 for the freehold reversion. The matter was transferred back to the court for further consideration which required the applicants pay the premium (less any assessed costs) into court after which the court would execute a transfer of the freehold. This case related to 2 flats. The remaining number of years on the lease was 70.57 years.