Is the fact that my conveyancer in Old Malden is not identified on my bank's conveyancing panel that there is a problem with the standard of the firm’s work?
That is more than likely an incorrect assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Old Malden conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
A friend informed me that in buying a property in Old Malden there could be various restrictions limiting what one can do in terms of external alterations to the property. Is this right?
We are aware of anumerous of properties in Old Malden which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Old Malden should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My solicitor has informed me that restrictive coveneant insurance is required on my purchase. What is the level of cover for Old Malden conveyancing?
The right level of restrictive coveneant indemnity insurance depends on your lender. It would differ for example between National Westminster Bank and Coventry Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
I am selling my flat. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Santander are being a right pain. The Old Malden solicitor who is on the Santander conveyancing panel is saying indemnity insurance will be fine but Santander are requiring a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
What will a local search reveal about the property I am purchasing in Old Malden?
Old Malden conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search company for instance PSG The local search is essential in every Old Malden conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your property. The search will supply information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
I am looking for a ground for flat up to £245,000 and identified one close by in Old Malden I like with open areas and station nearby, however it's only got 61 years on the lease. I can't really find anything else in Old Malden in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
Am I best advised to instruct a Old Malden conveyancing solicitor based in the vicinity that I am hoping to buy? I have an old university friend who can handle the conveyancing but his firm is located approximately 350kilometers drive away.
The benefit of a local Old Malden conveyancing practice is that you can attend the office to sign documents, hand in your identification documents and pester them where appropriate. They will also have local knowledge which is a benefit. However it's more important to get someone that will do a good and efficient job. If you know people who used your friend and in the main were happy that should trump using an unknown Old Malden conveyancing lawyer solely due to them being based in the area.
When it comes to my conveyancing in Old Malden should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Old Malden conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancer's time in submitting the funds this way.