Is the fact that my conveyancer in Wimbledon is not listed on my bank's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable 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 top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Wimbledon conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
I am considering applying for a Nationwide mortgage for purchase of a newly converted (under development) in Wimbledon with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nationwide ?
There is nothing to stop you using your solicitor, but Nationwide will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
It has been five months since my purchase conveyancing in Wimbledon took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 asset 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.
Should I be wary that brokers that I am dealing with are recommending a nationwide conveyancing firm rather than a High Street Wimbledon conveyancing company?
As with many service providers, often suggestions from family and friends can be extremely useful or valuable. Nevertheless there are numerous people with a keen interest in a conveyancing deal; estate agents, financial adviser and mortgage companies might all put forward lawyers to appoint. On occasion the solicitors might be known to one of the organisations as experts in their field, but sometimes there exists a commercial relationship behind the endorsement. You are free to appoint your own lawyer. You need to be aware that the majority of banks have an approved list of solicitors you have to use for the mortgage related work in your conveyancing.
Last April I purchased a leasehold flat in Wimbledon. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
Having spent months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Wimbledon. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We are happy to put you in touch with a Wimbledon conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Wimbledon flat is 629 Garratt Lane in September 2014. The consideration payable for the acquisition of the freehold of the subject property was the sum £21,302.74. This represented a valuation of the freehold in the sum of £23,864 from which the sum of £2561.27 has been deducted in respect of certain costs in repairing and insuring the premises This case affected 3 flats. The number of years remaining on the existing lease(s) was 72.94 years.
We are expecting to exchange on the purchase a property in Wimbledon but as a consequence of wreckage from the recent storms I have agreed reparation from the vendor of £2k in the form of a reduction in the price. This was going to be addressed as part of the conveyancing process but the lender will not permit this. Why were they notified?
Your conveyancer being on the lender approved list is obliged to inform the lender of any changes to the sale price. If you prohibit your property lawyer to notify the price change to your bank then they would have to refrain from representing you and the mortgage company.