Am I correct in assuming that the fact that my conveyancer in Walworth is not identified on my lender's solicitor panel that there is a problem with the standard of his work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume 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 Walworth conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
My stepmother informed me that in buying a property in Walworth there may be various restrictions affecting the ability to carry out external changes to the property. Is this right?
There are a number of properties in Walworth which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Walworth should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We are due to move home in April. Does my conveyancing solicitor update the removal company on the day of completion. As an aside, can you suggest a removal company in Walworth. Conveyancing lawyer was chosen before I stumbled across your website.
On the day of completion you will need to collect the keys from the estate agent but this should only take place once the sellers conveyancers confirm to the agent that they have the completion monies and the keys can be released. After that you will need to advise the removal men that you are ready to move in. We are not in a position to recommend a specific removal company but can help you locate a residential property solicitor in Walworth or a firm with expertise in conveyancing in Walworth.
I have instructed a Walworth lawyer having made sure that they are on the Coventry BS conveyancing panel. Does my lawyer arrange the survey of the property?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Walworth surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one close by in Walworth I like with amenity areas and station nearby, the downside is that it's only got 52 years on the lease. I can't really find anything else in Walworth in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the shortness of the lease will be an issue. Reduce the price by the amount the 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 may request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
How easy is it to use your search tool to choose a conveyancing lawyer in Walworth on the approved list for my bank?
First pick a mortgage company such as Birmingham Midshires, Chelsea Building Society or Alliance & Leicester then specify your preferred area such as Walworth. Conveyancing organisations in Walworth and further afield should be listed.
Last August I purchased a leasehold house in Walworth. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have had difficulty in trying to purchase the freehold in Walworth. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases 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 you can apply to the First-tier Tribunal (Property Chamber) to arrive at the sum to be paid.
An example of a Freehold Enfranchisement case for a Walworth flat is 28 Valmar Road in June 2013. this was a case with an absentee freeholder. As a result the leaseholders applied to the Lambeth County Court for an order dispensing with the giving of a notice of claim. On 25 April 2013 District Judge Zimmels made a vesting order and directed that the matter should be transferred to this tribunal to determine the premium. The tribunal concluded on a figure of £1,125 This case affected 3 flats. The number of years remaining on the existing lease(s) was 968 years.
Our solicitor in Walworth has uncovered a a legal deficiency with the lease for the flat we are buying in Walworth. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the lender conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the lender?
Just because you have a mortgage offer from the lender does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Walworth conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. These conveyancing instructions have to be complied with by the bank conveyancing panel who has to balance acting for you and the mortgage company