My wife and I are looking to buy a flat in New Addington and are in fact using a New Addington conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Barclays have this afternoon contacted us to inform me that they have now hit a problem as our New Addington conveyancer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred New Addington lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
We note that you have a search directory listing law firms on the Bank of Ireland conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in New Addington?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in New Addington.
three months have gone by since my purchase conveyancing in New Addington concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. 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 residence 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.
How can the Landlord & Tenant Act 1954 impact my business offices in New Addington and how can you help?
The particular law that you refer to provides protection to business leaseholders, giving them the right to apply to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and help with commercial conveyancing in New Addington
I've found a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in New Addington. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in New Addington ?
The majority of houses in New Addington are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in New Addington in which case you should be looking for a New Addington conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in New Addington. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a New Addington conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a New Addington residence is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case was in relation to 6 flats. The remaining number of years on the lease was 78.32 years.
How much experience do your New Addington conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
New Addington conveyancing lawyers help thousands of people move home every year and supported plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique New Addington conveyancers have worked on recent similar cases.