I am progressing with the sale of my maisonette in Epsom and the EA has just telephoned to advise that the purchasers are appointing a new solicitor. I am told that this is due to the fact that the bank will only deal with property lawyers on their conveyancing panel. On what basis would a big named lender only engage with specific lawyers rather the firm that they want to choose for their conveyancing in Epsom ?
Mortgage companies have always had panels of law firms they are willing to work with, but in the last few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Mortgage companies point to the increase in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any impact on this.
It has been 2 months since my purchase conveyancing in Epsom took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. 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.
About to purchase a new build flat in Epsom. 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.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Epsom
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Is it possible to transfer to a new conveyancer as I have to instruct a firm on the Yorkshire Building Society conveyancing list. I was using a high street conveyancing solicitor in Epsom round the corner but she is not accepted by Yorkshire Building Society
We will our best to assist in finding you a conveyancing solicitor in Epsom on the Yorkshire Building Society panel. Please note that the solicitors that we on the directory do not pay us fee if you instruct them and are regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Epsom. Using search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Epsom.
Am I best advised to instruct a Epsom conveyancing practitioner who is local to the property I am purchasing? An old friend can carry out the conveyancing however her office is approximately 350kilometers drive away.
The primary upside of using a local Epsom conveyancing firm is that you can visit the firm to sign documents, present your identification documents and pester them where appropriate. They will also have local insight which is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were content that must surpass using an unknown Epsom conveyancing lawyer just because they are round the corner.
Can you offer any advice when it comes to appointing a Epsom conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Epsom conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Epsom conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:
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What volume of lease extensions have they carried out in Epsom in the last twenty four months? Can they put you in touch with clients in Epsom who can give a testimonial?
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Epsom conveyancing firm to act on my behalf?
Absolutely. We are happy to put you in touch with a Epsom conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Epsom residence 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 term as at the valuation date was 60.43 years.