Am I correct in assuming that the fact that my solicitor in Ladywell is not listed on my bank's conveyancing panel that there is a problem with the quality of the firm’s work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Ladywell conveyancing firm and enquire why they are no longer on the approved list for your bank.
Can the conveyancing lawyers identified via your search tool handle attended exchange conveyancing in Ladywell?
We do have a number of conveyancing experts carrying out attended exchanges. Please e-mail us to get a costs illustration and details as to dates.
If you had a top tip for choosing a conveyancing solicitor in Ladywell what would it be?
We would encourage you not to go for the cheapest Ladywell conveyancing quote. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
When it comes to lenders such as Santander, do Ladywell conveyancing practitioners incur a yearly amount to be on the conveyancing panel?
We are unaware of any lender fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I have paid off my mortgage with Virgin Money. I assume I don't need a Ladywell conveyancer on the Virgin Money panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money 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 Virgin Money mortgage from the register. Virgin Money, 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 Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
Me and my brother have a semi-detached Edwardian house in Ladywell. Conveyancing lawyer acted for me and Britannia. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ladywell and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with your conveyancing solicitor who conducted the conveyancing.
Am I better off to appoint a Ladywell conveyancing solicitor based in the vicinity that I am hoping to buy? An old friend can carry out the legal formalities however her office is a couple of hundredkilometers drive away.
The benefit of a local Ladywell conveyancing firm is that you can visit the firm to sign paperwork, deliver your identification documents and apply pressure on them if necessary. Having local Ladywell know how is a bonus. However it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were content that should trump using an unfamiliar Ladywell conveyancing lawyer just because they are round the corner.
Do you have any advice for leasehold conveyancing in Ladywell with the aim of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Ladywell can be reduced if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the buyers’ conveyancers. The majority of freeholders or managing agents in Ladywell levy fees for providing management packs for a leasehold home. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Ladywell. You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your conveyancers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. Some Ladywell 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. The bank reference should make it clear that the buyer is financially capable of paying 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 buyers or their solicitors.
Notwithstanding our best efforts, we have been unsuccessful in trying to reach an agreement for a lease extension in Ladywell. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Ladywell conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Ladywell premises is 44 Elmer Road in January 2013. The Tribunal dacied that amount to be paid by the Leaseholders for the Landlords freehold reversion was £12,951 as at the valuation date (20" September 2012).This matter was referred back to the Bromley County Court to deal with costs, fees and any other outstanding matters. This case related to 2 flats. The unexpired residue of the current lease was 74.25 years.