My wife and I are hoping to purchase a 1 bedroom flat in Sutton with a mortgage. We would like to retain our Sutton conveyancer, but the lender advise he's not on their "panel". It appears that we have no choice but to appoint one of the mortgage company panel solicitors or retain our Sutton conveyancer and pay for one of their panel lawyers to represent them. This feels very unfair; are we not able to demand that the bank use our Sutton conveyancing practitioner ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Sutton conveyancing lawyer to apply to be on the conveyancing panel.
Can I use your services to find a Conveyancing solicitor in Sutton even if I’m not purchasing or disposing of a house, for instance where I intend to acquire an office in Sutton with a mortgage from Virgin Money?
Our comparison service is mainly used to find domestic conveyancing solicitors in Sutton but we have recorded towards the end of this page a selection of Sutton commercial conveyancing firms. You will need to speak with the solicitors directly to see if they are also authorised to represent Virgin Money
What happens if my solicitor is removed from the Virgin Money Conveyancing panel ahead of completing my conveyancing in Sutton?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We are due to move home in February. Does my conveyancing solicitor update the removal company on the completion day. As an aside, can you recommend a removal company in Sutton. Conveyancing lawyer was found prior to coming across this site.
On the day of completion you can pick up the house keys from your estate agent however this should only take place once the previous owners conveyancers advise the agent that they have the completion monies and the keys can be released. Subsequently you should advise the removal men that you are ready to move in. We are not in a position to recommend a particular removal company but can assist you in locating a residential property solicitor in Sutton or a solicitor that specialises in conveyancing in Sutton.
Is it the case that all Sutton solicitors on the Kent Reliance conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Kent Reliance conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. The majority of banks do allow licenced conveyancers on their panel and in such a situation the practice would be regulated by the Council of Licensed Conveyancers.
My husband and I have arranged the release of further funds on our mortgage from Aldermore as we want to conduct improvements to our home in Sutton. Are we obliged to select a nearby Sutton solicitor on the Aldermore conveyancing panel to deal with the legals?
Aldermore would not normally appoint firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore conveyancing panel.
I'm purchasing my first flat in Sutton with a mortgage from Skipton Building Society. The developers would not reduce the amount so I negotiated 6k of additionals instead. The sale representative told me not inform my lawyer about this side-deal as it will adversely affect my loan with Skipton Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently bought a leasehold property in Sutton. Am I liable to pay 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
We have reached the end of our tether in seeking a lease extension in Sutton. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We are happy to put you in touch with a Sutton conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Sutton property is Buchanan Court 39 Vernon Road in April 2010. the Tribunal assessed that the premium payable for the freehold of the block should be £44,000. This case was in relation to 2 flats. The unexpired term as at the valuation date was 66.67 years.