What happens if my lawyer’s firm is removed from the UBS Solicitor panel ahead of completing my conveyancing in East Sheen?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
What is the difference between a licensed conveyancer and conveyancing solicitor in East Sheen
There are many registered licenced Conveyancers in East Sheen and Solicitor practices in East Sheen to choose from It is important to make clear that both are regulated professionals specialising in the legal aspects of transferring property. Both can deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
is it true that all East Sheen solicitor firms on the Yorkshire BS conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Yorkshire BS approved list of solicitors they would need to be overseen by the SRA. Many banks do list licenced conveyancers on their panel and in that case the organisation would be governed by the Council of Licensed Conveyancers.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my East Sheen bank branch on various occasions and was told they are content with the situation and they would lend. My East Sheen conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend in accordance with their specific requirements. Who do I believe?
As long as the conveyancer is on the lender panel, she or he must follow the Council of Mortgage Lenders’ Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
My relative suggested that where I am purchasing in East Sheen I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your East Sheen conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about East Sheen around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the East Sheen Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, East Sheen Education with plans and statistics, Local Amenities and other useful information about East Sheen.
The estate agent has sent us the confirmation of our purchase of a new build flat in East Sheen. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in East Sheen
-
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in East Sheen I like with amenity areas and railway links in the vicinity, however it only has 51 years on the lease. I can't really find anything else in East Sheen in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I have just started marketing my 2 bed apartment in East Sheen. Conveyancing solicitors are to be appointed soon, but I have just had a yearly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as normal given that all ground rent and maintenance invoices will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
My wife and I have hit a brick wall in negotiating a lease extension in East Sheen. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a East Sheen conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a East Sheen premises is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case affected 3 flats. The number of years remaining on the existing lease(s) was 66.25 years.