I am in a contract race with another buyer for a property in Surrey Quays. What can I do to expedite the conveyancing process?
In the event that you are under a tight deadline for your conveyancing it is highly recommended that your solicitor is familiar with the area as they will have local connections and knowledge. It is possible that they could have handled previoushouses in the same road. Therefore consider using a Surrey Quays conveyancing solicitor. In addition, be sure that the conveyancing firm is on the lender panel. It is believed that just under twenty per cent of Surrey Quays conveyancing transactions are delayed or derailed after discovering a buyer’s lawyer was not on their banks list of approved solicitors. In many cases this discovery resulted in the transaction being held up by an average of 21 days. It is estimated that this issue affects in the region of 100,000 home sales annually. Most Surrey Quays conveyancing practices can not represent certain mortgage companies so do check at the outset.
I am the registered owner of a freehold property in Surrey Quays but still charged rent, why is this and what is this?
It is rare for properties in Surrey Quays and has limited impact for conveyancing in Surrey Quays 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Is there a search tool that I can use to investigate if the solicitor handling my conveyancing in Surrey Quays is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Norwich and Peterborough Building Society thus spending £175.00 in supplemental legal fees.
Feel free to take advantage of the find a lender approved solicitor tool on this web page. Pick the mortgage company and type ‘Surrey Quays’ or your preferred area and you will be presented with numerous conveyancers based in Surrey Quays or near you.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Surrey Quays?
There are many recorded licenced Conveyancers in Surrey Quays and Solicitor firms in Surrey Quays offering conveyancing It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal work in transferring property. The two can handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
My bid for a property was accepted at auction in Surrey Quays. Conveyancing is required. What happens now?
Given that you have now exchanged you should appoint a conveyancing solicitor soon as you will have a fast approaching a drop dead date to complete the conveyancing. Every auction property will ordinarily have a bespoke legal pack. This will likely include most,if not all of the paperwork that your lawyer requires. Where you are dealing with leasehold property the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to a leasehold property. You need to hand this to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are in place to complete on the on the contractual date .
Last month we had a mortgage agreed in principle with Nationwide. Surrey Quays conveyancing practitioners are appointed. What is the average time that one could expect to receive a mortgage offer from Nationwide?
Some lenders take longer than others. Have Nationwide conducted the survey? Have you advised Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I used Stirling Law a few years ago for my conveyancing in Surrey Quays. Now, I need my files however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Surrey Quays of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Surrey Quays. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Surrey Quays ?
Most houses in Surrey Quays are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Surrey Quays so you should seriously consider shopping around for a Surrey Quays conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.
After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Surrey Quays. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing landlord 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 LVT to assess the premium.
An example of a Freehold Enfranchisement decision for a Surrey Quays flat is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The unexpired term as at the valuation date was 101.61 years.