Me and my fiance are buying a 3 bedroom apartment in Cubitt Town with a mortgage. We wish to retain our Cubitt Town solicitor, but the bank says she’s not on their "panel". It appears that we have little option but to select one of the mortgage company panel solicitors or retain our Cubitt Town conveyancing practitioner as well as pay for one of their panel firms to represent them. We feel that this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Cubitt Town conveyancing solicitor to apply to be on the conveyancing panel.
I am acquiring a brand new duplex in Cubitt Town and my solicitor is informing me that she has to the lender to disclose incentives from the seller. The Estate Agents are hassling me to exchange and I would rather not delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
2 months have gone by following my purchase conveyancing in Cubitt Town completed. I have checked the Land Registry site which shows that I paid £150,000 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.
I am thinking of appointing a conveyancing practitioner in Cubitt Town for my home move. Is it possible to review a solicitor's complaints history with the legal regulator?
Anyone can search for published Solicitor Regulator Association (SRA) determinations resulting from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA could recorded call for training purposes.
Can you provide any advice for leasehold conveyancing in Cubitt Town with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Cubitt Town can be reduced if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers. If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to ongoing. Some Cubitt Town leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. You believe that you know the number of years remaining on your lease but you should verify this by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Cubitt Town. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to decide the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Cubitt Town property is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The unexpired term as at the valuation date was 101.61 years.
A couple of weeks ago I was advised by my mortgage company that their panel conveyancers work on no completion no charge basis for conveyancing in Cubitt Town. I had a purchase abort and now the solicitors have requested search fees! They say the fees are seperate!
Cubitt Town conveyancing search charges are disbursements not legal fees as these are payable to independent parties.