My financial adviser requires my Chinatown law firm’s panel reference for the Lloyds conveyancing panel. How do I find this out. I have e-mailed my local Chinatown branch but they cant find it on their system.
The sensible thing to do is ask for this information from your Chinatown property lawyer . They keep a central record lender panel numbers.
Our Chinatown solicitor has uncovered an inconsistency when comparing the surveyor’s assumptions in the valuation report and what is revealed within the conveyancing documents. My solicitor says that he must ensure that the lender is happy with this discrepancy and is still content to lend. Is my conveyancer’s approach appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
4 months have elapsed following my purchase conveyancing in Chinatown concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 encouragement of my in-laws I had a survey completed on a property in Chinatown in advance of retaining lawyers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some banks may refuse to give a loan on such a home.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Chinatown. Conveyancing may be slightly more expensive based on your lender's requirements.
I am looking for a conveyancing practitioner in Chinatown for my purchase. Can I see a firm’s complaints history with the legal regulator?
Members of the public can search for published Solicitor Regulator Association (SRA) decisions arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The regulator sometimes monitor call for training requirements.
Having spent years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Chinatown. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We are happy to put you in touch with a Chinatown conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Chinatown flat is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case was in relation to 2 flats. The unexpired term was 73.92 years.
What makes a Chinatown lease problematic?
Leasehold conveyancing in Chinatown is not unique. All leases are individual and drafting errors can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:
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Service charge per centages that don't add up correctly leaving a shortfall
You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, The Mortgage Works, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.