I am in the process of selling my apartment in Sanderstead and the estate agent has just called to warn that the purchasers are appointing a new solicitor. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only engage with certain lawyers rather the firm that they want to select to handle their conveyancing in Sanderstead ?
UK lenders have always had panels of law firms they are content to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders point to the increase in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise 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 sway in the decision.
Why is leasehold purchase conveyancing in Sanderstead costs more?
The conveyancing fees on a leasehold premises in Sanderstead is inevitably greater when contrasted to a freehold property. This is due to the extra work required in communicating with the landlord and managing agents to obtain evidence concerning whether the rent and maintenance fee have been cleared and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
What can a local search reveal concerning the property my wife and I purchasing in Sanderstead?
Sanderstead conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations for example Onsearch The local search is essential in every Sanderstead conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search should supply information on, amongst other things, details on planning applications relevant 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 sections.
Am I best advised to appoint a Sanderstead conveyancing lawyer in close proximity to the house I am purchasing? I have an old university friend who can carry out the legal formalities however his firm is located approximately 350miles away.
The benefit of a high street Sanderstead conveyancing practice is that you can attend the office to sign paperwork, present your identification documents and apply pressure on them if necessary. They will also have local insight which is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and the majority were happy that should outweigh using an unfamiliar Sanderstead conveyancing lawyer just because they are based in the area.
I've recently bought a leasehold flat in Sanderstead. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee 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 be sure 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).
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Sanderstead conveyancing firm to act on my behalf?
You certainly can. We are happy to put you in touch with a Sanderstead conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Sanderstead property is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case was in relation to 6 flats. The unexpired residue of the current lease was 78.32 years.
Finally our conveyancing in Sanderstead is completing on Friday, yet the sellers I am purchasing off has asked to move out 24 hours later at at 2pm. Do I accept such a plan?
It is not possible to complete on a Saturday because the bank systems are not working.