Unfortunately I am unable to travel far from Rainham. What is the rationale as to why all Rainham conveyancing practitioners aren't included on all lender panels?
Pre- 2008 most mortgage companies demonstrated an attitude to risk which is different than today. The Financial Services Authority in 2010 carried out a thematic review into property fraud which in summary warned lenders: know the conveyancers on your panel. Accordingly, lenders have since requiredmore information from law firms about their processes and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Many law practices have found themselves removed from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible satisfy the criteria of amount of transactions the mortgage companies required.
It is 10 years ago since I bought my property in Rainham. Conveyancing solicitors have just been appointed on the sale but I can't track down my deeds. Is this a major issue?
You need not be too concerned. First the deeds may be kept by the mortgage company or they could be in the possession of the conveyancers who handled your purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Almost all conveyancing in Rainham involves registered property but in the unlikely event that your property is not registered it is more tricky but is resolvable.
My brother-in-law has suggested I instruct a conveyancing solicitor in Rainham. I need to find out whether they are accepted on the Barnsley Building Society conveyancing panel. Can you help?
You should phone your solicitor and ask them whether they are on the lender panel. Alternatively you can call Barnsley Building Society who may be able to confirm.
Due to the encouragement of my in-laws I had a survey completed on a property in Rainham prior to retaining lawyers. I have been advised that there is a flying freehold element to the property. My surveyor has said that some lenders may refuse to grant a loan on this type of premises.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. If you call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Rainham. Conveyancing may be slightly more expensive based on your lender's requirements.
My partner has suggested that I appoint his lawyers for conveyancing in Rainham. Should I find my own conveyancer?
No doubt the best way to choose a conveyancing practitioner is to seek referrals from friends or family who have actually used the conveyancer that you are are thinking of instructing.
I have just appointed agents to market my 2 bed flat in Rainham. Conveyancing lawyers have not yet been instructed, however I have just received a quarterly maintenance charge invoice – what should I do?
The sensible thing to do is discharge the service charge as usual because all rents and service charges should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.
Having spent years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Rainham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the LVT to determine the price.
An example of a Lease Extension matter before the tribunal for a Rainham flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The unexpired lease term was 57.5 years.