Can conveyancing in Laleham to be finalised in less than 28 days?
In a situation where the seller is applying a tight deadline for your conveyancing we would recommend that your lawyer is familiar with the area as they will make use of local contacts and intelligence. It is possible that they would have handled previoushomes in the same road. Therefore consider using a Laleham conveyancing solicitor. Second, make sure that the conveyancing firm is on the lender panel. It is claimed that just under twenty per cent of Laleham conveyancing transactions are delayed or derailed after finding out that a purchaser’s lawyer was not on their mortgage lender’s list of approved solicitors. This can often result in the conveyancing being delayed by an average of 21 days. It is said that this issue impacts in the region of 100,000 home moves annually. Almost all Laleham conveyancing firms can not represent certain mortgage companies so do check as early as possible.
I am the registered owner of a freehold house in Laleham but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Laleham and has limited impact for conveyancing in Laleham but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Please explain the implications if my lawyer’s firm is removed from the UBS Solicitor panel ahead of completing my conveyancing in Laleham?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am purchasing a new build house in Laleham with a loan from Godiva Mortgages Ltd. The developers would not move on the price so I negotiated £7000 of extras instead. The house builders rep suggested that I not disclose to my conveyancer about the extras as it could affect my loan with Godiva Mortgages Ltd. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Laleham is where the house is located. Can you offer any guidance?
Flying freeholds in Laleham are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Laleham you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Laleham may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am downsizing from my property. My past solicitors have shut. I am in need of a recommendation of a conveyancing firm. I happen to live in Laleham if that affects matters.
Please use our search tool to help you find a solicitor for your conveyancing in Laleham. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.