It is a dozen years since I bought my house in Raynes Park. Conveyancing lawyers have just been instructed on the sale but I am unable to track down my title documents. Is this a major issue?
You need not be too concerned. First the deeds may be retained by your mortgage company or they could stored with the solicitor who oversaw the purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining current official copies of the land registers. The vast majority of conveyancing in Raynes Park involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is resolvable.
I am buying a new build flat in Raynes Park. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Raynes Park you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Raynes Park.
I require fast conveyancing in Raynes Park as I am under pressure to sign on the dotted line inside one month. A home loan is not required. Is it possible to decline from having conveyancing searches to save money and time?
If.Given you are not getting a home loan you are at free not to have searches carried out although no solicitor would advise that you don't. With lots of history conveyancing in Raynes Park the following are examples of issues that can appear and adversely affect future saleability: Enforcement Notices, Overdue Fees, Overdue Grants, Road Schemes,...
How does conveyancing in Raynes Park differ for new build properties?
Most buyers of new build property in Raynes Park come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because developers in Raynes Park usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Raynes Park or who has acted in the same development.
Last May I purchased a leasehold house in Raynes Park. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
My wife and I have hit a brick wall in trying to purchase the freehold in Raynes Park. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to assess the amount due.
An example of a Lease Extension decision for a Raynes Park premises 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 related to 1 flat. The unexpired residue of the current lease was 60.43 years.
My son is just in the process of moving home, the home loan was agreed last week in principle. After the offer was accepted on apartment we rang the building society to progress the mortgage application. I was very surprised to learn that banks do not accept all conveyancer, they have to be on a list, is this legal?
Mortgage Companies ordinarily imposes restrictions either the type or the number of conveyancing firms on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Raynes Park solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.