Me and my fiance are purchasing a 2 bedroom apartment in Tolworth with a mortgage. We like our Tolworth solicitor, but the bank advise he's not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Tolworth lawyer and pay for one of their panel lawyers to represent them. This seems very unfair; are we not able to demand that the bank use our Tolworth conveyancer ?
Unfortunately,no. The mortgage offered to you 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. A further alternative is for your Tolworth conveyancing lawyer to apply to be on the conveyancing panel.
We see that you have a post code search directory listing firms on the Barclays conveyancing panel. Do firms pay you a referral fee if I appoint them for our conveyancing in Tolworth?
We are a listing service only for law firms wishing to communicate if they are on the Barclays conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Tolworth.
2 months have gone by since my purchase conveyancing in Tolworth took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Tolworth differ for new build properties?
Most buyers of new build premises in Tolworth contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Tolworth usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Tolworth or who has acted in the same development.
I am looking for a ground for flat up to £195,000 and identified one round the corner in Tolworth I like with open areas and railway links nearby, however it only has 49 years on the lease. There is not much else in Tolworth suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage that many years may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
My wife and I purchased a leasehold house in Tolworth. Conveyancing and Accord Mortgages Ltd mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Tolworth who previously acted has now retired. Do I pay?
The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Tolworth conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I inherited a garden flat in Tolworth. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Where there is a absentee landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to assess the price payable.
An example of a Lease Extension decision for a Tolworth 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 affected 1 flat.