Am I correct in assuming that the fact that my conveyancer in Tooting is not identified on my bank's conveyancing panel that there is a problem with the quality of his work?
It would not be wise to jump to that conclusion. There are plenty of plausible explanations. Just recently a 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 contact the Tooting conveyancing firm and ask them why they are no longer on the approved list for your lender.
The vendors of the property we are hoping to buy hired a conveyancing solicitor in Tooting who has insisted on a exclusivity agreement with a deposit 6,000. Are such agreements sensible?
There are two main drawbacks with entering into any lock out contract (also referred to as an exclusivity agreement) is that it can distract from progressing with the conveyancing process, so in the absence of it needing little or no negotiation then it may transpire to be a cause of frustration and delay. It is not promoted amongst Tooting conveyancing solicitors for this reason. A further issue is the extent of the remedies available - an aggrieved purchaser is very unlikely to win an injunction to prevent the seller completing the sale to another buyer, so the only remedy available under the agreement will be the reimbursement of wasted charges and, in rare situations, the extra payment of penalties.
We see that you have a post code search directory identifying law firms on the Virgin Money conveyancing panel. Do companies pay you a commission if I instruct them for our conveyancing in Tooting?
We are a listing service only for law firms wishing to communicate if they are on the Virgin Money conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Tooting.
I'm purchasing a new build house in Tooting with the aid of help to buy. The builders refused to move on the price so I negotiated £7000 of additionals instead. The estate agent told me not inform my solicitor about the extras as it would impact my loan with Clydesdale. 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 need to appoint a conveyancing solicitor for leasehold conveyancing in Tooting. I have discover a site which appears to be the perfect answer If it is possible to get all the legals completed via web that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What advice can you give us when it comes to appointing a Tooting conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Tooting conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Tooting conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be helpful:
-
If the firm is not ALEP accredited then what is the reason? What are the legal fees for lease extension conveyancing?
Having spent years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Tooting. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee landlord or where 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 First-tier Tribunal (Property Chamber) to judgment on the premium.
An example of a Lease Extension case for a Tooting property is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case related to 1 flat. The remaining number of years on the lease was 62.94 years.