The Sutton conveyancing firm handling our Sutton conveyancing has identified an inconsistency when comparing the surveyor’s assumptions in the home valuation survey and what is in the legal papers for the property. My lawyer informs me that he needs to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s approach legitimate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
It is 10 years ago since I bought my home in Sutton. Conveyancing solicitors have just been instructed on the sale but I can't track down the title documents. Will this cause complications?
You need not be too concerned. First there is a possibility that the deeds will be with the lender or they could be archived with the lawyers who handled the purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring current official copies of the land registers. Most conveyancing in Sutton relates to registered property but in the unlikely event that your property is not registered it is more tricky but is resolvable.
This question may be naive but I am wet behind the ears as FTB of a two bedroom flat in Sutton. Do I collect the keys to the premises on the completion date from my lawyer? If this is the case, I will instruct a High Street conveyancing solicitor in Sutton?
On the day of completion you do not need to go to the conveyancers office in Sutton. Conveyancing lawyers for you will transfer the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you should be invited to collect the keys from the Estate Agents and move into your new home. Usually this happens early afternoon.
Is it the case that all Sutton CQS (Conveyancing Quality Scheme) solicitors are on the HSBC conveyancing panel?
A selection of lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
I am purchasing a property in Sutton. An unusual aspect is that the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is HSBC your lawyer must follow the conveyancing requirements set out in Part 2 of UK Finance Lenders’ Handbook for HSBC. The CML Handbook contains minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to HSBC where a lease does not meet these specifications. The provisions relate to the installation of panels on properties in England and Wales and is not restricted to Sutton.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to have this when purchasing a property in Sutton? or Apparently there is an ancient law that means some homeowners residing in a parish church boundary will be compelled to pay for repairs towards the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Sutton?
Unless a prior acquisition of the premises took place after 12 October 2013 you can assume that solicitors conducting conveyancing in Sutton to continue to propose a a chancel search and or chancel repair liability insurance.
I inherited a first floor flat in Sutton. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?
You certainly can. 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 residence 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 related to 2 flats. The unexpired term was 66.67 years.
What makes a Sutton lease problematic?
There is nothing unique about leasehold conveyancing in Sutton. All leases are unique and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
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A provision for the recovery of money spent for the benefit of another party. Insurance obligations
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Skipton Building Society, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Sutton. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Sutton ?
The majority of houses in Sutton are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Sutton in which case you should be shopping around for a Sutton conveyancing solicitor and check 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 at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor should advise you fully on all the issues.