I am in the process of selling my house in Coulsdon and the EA has just text me to warn that the purchasers are switching solicitor. I am told that this is due to the fact that the bank will only work with solicitors on their conveyancing panel. Why would a big named lender only deal with certain law firms rather the firm that they want to choose for their conveyancing in Coulsdon ?
Lenders have always had panels of law firms that can act for them, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lenders attribute this action to a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
Do the conveyancing solicitors via your comparison service handle conveyancing in Coulsdon by way of an attended exchange?
We do have a number of conveyancing experts who can conduct 24hr exchanges. Please contact us to secure a conveyancing quote and details as to dates.
I have been told that property searches are the main reason for stalling in Coulsdon conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any slowing down conveyancing in Coulsdon.
As co-executor for the estate of my aunt I am disposing of a property in Neath but reside in Coulsdon. My conveyancer (who is 250 kilometers awayneeds me to sign a stat dec prior to the transaction finalising. Can you recommend a conveyancing practitioner in Coulsdon who can attest and place their company stamp on the document?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are Coulsdon based
I work for a reputable estate agency in Coulsdon where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Coulsdon conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I have had difficulty in negotiating a lease extension in Coulsdon. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Coulsdon conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Coulsdon 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 affected 3 flats. The unexpired term as at the valuation date was 75 years.
I happen to be an executor of my recently deceased aunt’s Will, with a bungalow in Coulsdon which will be marketed. The house has never been registered at HMLR and I'm told that some EAs will insist that it is in place before they will proceed. What's the procedure for this?
In the circumstances you refer to it seems sensible to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.