The Becontree conveyancing firm that just started acting on my house acquisition in Becontree have suddenly shut down. I only went with them because I needed a lawyer on the Virgin Money conveyancing panel and my preferred Becontree lawyer was not. I paid them money in advance. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Virgin Money conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Becontree?
There are many registered licenced Conveyancers in Becontree and Solicitor practices in Becontree to choose from We would stress that both are regulated professionals specialising in the legal work in transferring property. The two can deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I have paid off my mortgage with Nationwide. I assume I don't need a Becontree conveyancing practitioner on the Nationwide panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nationwide 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 Nationwide mortgage from the register. Nationwide, 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 Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
HSBC have agreed my mortgage in principle, my offer on a apartment in Becontree has been accepted, now what?
The property agent will want to know who your solicitors are (make sure the lawyers are on the lender’s approved list). Contact HSBC or your financial adviser and complete any relevant paperwork. HSBC will instruct a valuer who will get in contact with the selling agent or vendor to arrange an appointment. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. HSBC will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Becontree.
three months have elapsed following my purchase conveyancing in Becontree concluded. I have checked the Land Registry website 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.
Due to the guidance of my in-laws I had a survey completed on a house in Becontree ahead of retaining conveyancers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies may refuse to grant a mortgage on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Becontree. Conveyancing will be smoother if you use a solicitor in Becontree especially if they are acquainted with such properties in Becontree.
How do I search for a Becontree law firm on the Aldermore conveyancing panel? I am a keen cyclist and am happy to travel upto 20miles to meet the conveyancer.
Feel free to make use of the search on this page. Please select a lender and your location and you will see a number of Becontree conveyancing lawyers based on proximity. We have listed some Becontree conveyancing firms towards the end of this page and you can call them to see whether they are on the Aldermore member panel
I am in need of some leasehold conveyancing in Becontree. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Becontree - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
After months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Becontree. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to arrive at the premium.
An example of a Lease Extension matter before the tribunal for a Becontree residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The unexpired residue of the current lease was 61.36 years.