Am I correct in assuming that the fact that my solicitor in St Margarets is not listed on my lender's solicitor panel that there is a problem with the quality of her conveyancing?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack 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 St Margarets conveyancing firm and ask them why they are no longer on the approved list for your bank.
Can the conveyancing practitioners that you recommend handle right to buy conveyancing in St Margarets?
We have identified numerous conveyancing practitioners carrying out right to buy conveyancing matters Do contact us in order to get a costs illustration.
I purchased a freehold property in St Margarets yet charged rent, why is this and what is this?
It’s unusual for properties in St Margarets and has limited impact for conveyancing in St Margarets but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
Should my solicitor be making enquiries concerning flooding as part of the conveyancing in St Margarets.
Flooding is a growing risk for solicitors conducting conveyancing in St Margarets. There are those who acquire a house in St Margarets, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, but there are a various searches that may be undertaken by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in St Margarets. The standard completed inquiry forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to find out whether the premises has suffered from flooding. In the event that flooding has previously occurred which is not revealed by the owner, then a purchaser may bring a legal claim for losses as a result of such an misleading reply. A purchaser’s lawyers should also order an environmental report. This will reveal whether there is any known flood risk. If so, further investigations will need to be made.
How does conveyancing in St Margarets differ for new build properties?
Most buyers of new build property in St Margarets contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is constructed. This is because builders in St Margarets tend to purchase the real estate, 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 accustomed to new build conveyancing in St Margarets or who has acted in the same development.
I am on look out for some leasehold conveyancing in St Margarets. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in St Margarets - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a St Margarets conveyancing firm to act on my behalf?
Most definitely. We are happy to put you in touch with a St Margarets conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a St Margarets premises is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case related to 1 flat. The unexpired term was 60.45 years.