I am progressing with the sale of my home in Walton and the estate agent has just called to advise that the buyers are changing their solicitor. The reason given is that the mortgage company will only work with solicitors on their approved list. On what basis would a big named lender only work with certain solicitors rather the firm that they want to choose to handle their conveyancing in Walton ?
UK lenders have always had panels of law firms they are willing to work with, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks point to the increase in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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. Your buyers are not going to have any sway in the decision.
Last November we completed a house move in Walton. We have since encountered a number of issues with the house which we believe were overlooked in the conveyancing searches. Do we have any recourse? What searches should? have been conducted for conveyancing in Walton?
It is not clear from the question as what problems have arisen and if they are specific to conveyancing in Walton. Conveyancing searches and due diligence initiated as part of the legal transfer of property are supposed to help avoid problems. As part of the legal transfer of property, the vendor answers a form called a Seller’s Property Information Form. answers turns out to be incorrect, then you may have a claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Walton.
The deeds to my home can not be found. The lawyers who handled the conveyancing in Walton 10 years ago have long since closed. What do I do?
As long as you have a registered title the information relating to your proprietorship will be recorded by HMLR with a Title Number. It is possible to perform a search at the Land Registry, locate your property and get current copies of the property title for less than a fiver. Where the title is Leasehold then the Land Registry will usually retain a file copy of the Registered Lease and again, a copy can be retrieved for twenty pounds.
About to purchase a new build flat in Walton. Conveyancing is necessary evil 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 legal work.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Walton
-
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. Please confirm the Lease plans are architect prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am thinking of appointing a conveyancing practitioner in Walton for my home move. Can I check a solicitor's record with the legal regulator?
Anyone may review documented Solicitor Regulator Association (SRA) determinations resulting from inquisitions from 2008 onwards. Visit Check a solicitor's record. For information Pre 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The SRA sometimes recorded call for training reasons.
I am employed by a long established estate agent office in Walton where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Walton conveyancing firms. Please can you shed some light as to whether the vendor of a flat can commence the lease extension formalities 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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 have given up trying to purchase the freehold in Walton. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the price.
An example of a Lease Extension matter before the tribunal for a Walton property is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The number of years remaining on the existing lease(s) was 82.93 years.