I am progressing with the sale of my flat in Teddington and the estate agent has just called to advise that the buyers are swapping conveyancer. I am told that this is due to the fact that the lender will only work with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only engage with certain lawyers rather the firm that they want to appoint for their conveyancing in Teddington ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.
I own a freehold house in Teddington but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Teddington and has limited impact for conveyancing in Teddington 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 date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
Me and my partner are buying a property in Teddington. It might be a silly question but how we can trust a conveyancer? On the day of competition we will need to deposit funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My lawyer has informed me that breach of easement insurance is required on my purchase. What is the level of cover for Teddington conveyancing?
The right level of breach of easement indemnity insurance depends on who your lender is. It would differ for example between Santander and Coventry Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
When it comes to mortgage companies such as Nationwide, do Teddington property lawyers have to pay a yearly amount to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
The estate agent has sent us the confirmation of our purchase of a new build flat in Teddington. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Teddington
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants.
As co-executor for the estate of my uncle I am disposing of a house in Monmouth but live in Teddington. My solicitor (approximately 235 miles from meneeds me to execute a stat dec before the transaction finalising. Can you recommend a conveyancing practitioner in Teddington to witness and place their company stamp on the document?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are located in Teddington
I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Teddington. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Teddington ?
The majority of houses in Teddington are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. it is apparent that you are buying in Teddington in which case you should be shopping around for a Teddington conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer will report to you on the legal implications.
Having spent months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Teddington. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to assess the premium.
An example of a Lease Extension decision for a Teddington flat is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.