Am I correct in assuming that the fact that my conveyancer in Swanscombe is not identified on my bank's solicitor panel that there is a problem with the standard of her work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (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 Swanscombe conveyancing firm and enquire why they are no longer on the approved list for your lender.
I am in a contract race with another buyer for a property in Swanscombe. What can be done to quicken up the conveyancing process?
Where the seller is applying a tight deadline for your conveyancing it is highly recommended that your lawyer is familiar with the area as they will have local relationships and knowledge. It is possible that they may have transacted otherhouses in the same road. You would be best advised to use a Swanscombe conveyancing lawyer. Second, double check that the lawyer is on the lender panel. It is believed that 18% of Swanscombe conveyancing deals are delayed or derailed after discovering a purchaser’s conveyancer was not on their banks member panel. This can often result in the transaction being held up by an average of three weeks. It is believed that this issue affects in the region of 100,000 home moves every year. Almost all Swanscombe conveyancing practices can not represent certain lenders so do check as early as possible.
I own a freehold premises in Swanscombe yet charged rent, why is this and what is this?
It is rare for properties in Swanscombe and has limited impact for conveyancing in Swanscombe 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 generation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
The Swanscombe conveyancing solicitors that just started acting on my house acquisition in Swanscombe have without warning closed. I only went with them because I had to have a solicitor on the Aldermore conveyancing panel and my family Swanscombe lawyer was not. I paid them money on account. What do I do now?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Aldermore conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
When it comes to lenders such as Principality, do Swanscombe conveyancing practitioners face an annual charge to be on the list of approved solicitors?
We are not aware of any mortgage company fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
Does a directory service exist listing Coventry BS panel solicitors in Swanscombe on the Building Society Association’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lending institutions make their panel listings viewable on the web. Where you are seeking to appoint a Swanscombe property lawyer on the Coventry BS please use our tool.
My fiancee and I are in the throws of viewing flats in Swanscombe and I am about to put in an offer. Should I already have a property lawyer appointed at this point? I intend to finance via a home loan with Nottingham.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. As you are taking out a mortgage with Nottingham, ask your prospective lawyers if they are on the Nottingham conveyancing panel otherwise they can't do the mortgage legal work.
I work for a long established estate agency in Swanscombe where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Swanscombe conveyancing firms. Could you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a ground-floor 1960’s flat in Swanscombe. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?
if there is a missing freeholder 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 calculate the premium.
An example of a Lease Extension case for a Swanscombe property is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The unexpired term was 76 years.