I was notified today by my mortgage broker that my Woldingham the law firm I have appointed is not on the lender Solicitor panel. How can I check?
The first thing you need to do is to contact your Woldingham lawyer directly. You lawyer should inform you of the situation. If they are not on the panel they may be able to suggest a Woldingham conveyancing firm that is on the conveyancing panel for your mortgage company.
My wife and I have lately acquired a house in Woldingham. We have noticed several problems with the property which we consider were missed in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that should have been carried out for conveyancing in Woldingham?
The question is not clear as to the nature of the problems and if they are unique to conveyancing in Woldingham. Conveyancing searches and due diligence undertaken during the buying process are carried out to help avoid problems. As part of the process, a seller answers a form known as a Seller’s Property Information Form. If the information is 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 Woldingham.
Can you clarify what the consequences are if my solicitor is suspended from the RBS Solicitor panel ahead of completing my conveyancing in Woldingham?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My solicitor has informed me that restrictive coveneant insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Woldingham?
The right level of restrictive coveneant indemnity insurance should be dictated by who your lender. It would differ for example between Santander and Barnsley Building Society. Conveyancing lawyers as opposed to borrowers take out such insurances.
I have today made my last payment due on my mortgage with Bank of Ireland. I assume I don't need a Woldingham property lawyer on the Bank of Ireland panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I can not work out if my bank requires a lease extension. I have called into my local Woldingham building society branch on numerous occasions and was reassured it wasn't an issue and they will lend. My Woldingham conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they would not lend based on their published requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the bank panel, she or he must adhere to the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
How does conveyancing in Woldingham differ for newly converted properties?
Most buyers of new build or newly converted property in Woldingham contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because builders in Woldingham usually acquire 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 property lawyers 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 Woldingham or who has acted in the same development.
What are your top tips when it comes to finding a Woldingham conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Woldingham conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Woldingham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be helpful:
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Can they put you in touch with clients in Woldingham who can give a testimonial? How many lease extensions have they conducted in Woldingham in the last 12 months?
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Woldingham. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We can put you in touch with a Woldingham conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Woldingham residence is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case was in relation to 3 flats. The remaining number of years on the lease was 75 years.