Finally the sale completed on my house in Loughton last September yet the purchaser is Skype messaging me complaining that their lawyer needs to hear from mine. What are the post completion sale legalities now that I have sold?
Following your disposal your conveyancer should deliver the transfer documentation and all additional paperwork to the purchaser's conveyancer. Where appropriate, your lawyer should also evidence that the mortgage has been paid off to the buyers lawyers. There is unlikely to be post completion steps specific conveyancing in Loughton.
A relative advised me that in purchasing a property in Loughton there may be various restrictions prohibiting external alterations to a property. Is this right?
There are anumerous of properties in Loughton which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Loughton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Are all Loughton Conveyancing Quality Solicitors on the Kent Reliance conveyancing panel?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
I was told three weeks ago that my mortgage has been agreed to by Virgin Money. Is it usual for Virgin Money to only issue the offer once my solicitor in Loughton is approved on their conveyancing panel? Virgin Money have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Virgin Money to deal with your lawyer's application to be on the Virgin Money conveyancing panel. There's no guarantee that your solicitor will be accepted.
Various web forums that I have come across warn that are the number one cause of stalling in Loughton house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of holding up conveyancing in Loughton.
3 months have elapsed following my purchase conveyancing in Loughton completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. 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 premises 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.
My husband and I are new to the buying process - agreed a price, yet the agent has warned us that the seller will only proceed if we use their chosen conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a family solicitor with experience of conveyancing in Loughton
We suspect that the owner is unaware of this demand. Should the vendor desire ‘a quick sale', alienating a genuine buyer is counter productive. Speak to the owners direct and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)but you intend to appoint your preferred Loughton conveyancing lawyers - rather thanthe ones that will earn the estate agent a referral fee or hit his conveyancing targets pre-set by corporate headquarters.
Can you provide any top tips for leasehold conveyancing in Loughton from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Loughton can be avoided if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives. Many freeholders or Management Companies in Loughton levy fees for providing management packs for a leasehold home. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Loughton. If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Loughton state that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. Should you dont have the consents in place do not contact the landlord without checking with your conveyancer before hand. Some Loughton leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents 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 lawyers.
Following months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Loughton. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We can put you in touch with a Loughton conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Loughton residence is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case affected 2 flats. The unexpired residue of the current lease was 69.26 years.