My fiance and I are looking to buy a flat in Mitcham Junction and are in fact using a Mitcham Junction conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Platform Home Loans Ltd have this evening contacted us to advise us that they have now hit a problem as our Mitcham Junction solicitor is not on their approved list of lawyers. Is this a problem?
If you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Mitcham Junction solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Would the conveyancing lawyers that are recommend execute auction conveyancing in Mitcham Junction?
We know of a number of niche solicitors we can put you in touch with those conducting auction conveyancing. Mitcham Junction is one of hundreds of locations where our lawyers have offices.
Will my solicitor be making enquiries regarding flooding as part of the conveyancing in Mitcham Junction.
Flooding is a growing risk for solicitors dealing with homes in Mitcham Junction. Plenty of people will buy a house in Mitcham Junction, completely aware that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to offer advice on flood risk, however there are a number of searches that can be carried out by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in Mitcham Junction. The conventional set of information given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to discover whether the premises has historically flooded. If the premises has been flooded in past which is not notified by the seller, then a purchaser may commence a claim for damages as a result of such an incorrect response. The purchaser’s solicitors will also order an enviro report. This will indicate if there is any known flood risk. If so, further inquiries will need to be initiated.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Mitcham Junction is the location of the property. Is there any guidance you can give?
Flying freeholds in Mitcham Junction are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mitcham Junction you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mitcham Junction may decide 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 residence.
In my capacity as executor for the will of my father I am disposing of a residence in Newport but I am based in Mitcham Junction. My conveyancer (approximately 300 kilometers from meneeds me to sign a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing lawyer in Mitcham Junction to witness and place their company stamp on the document?
Technically speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are based in Mitcham Junction
I am employed by a busy estate agency in Mitcham Junction where we see a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Mitcham Junction conveyancing firms. Can you clarify whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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 attempted and failed to negotiate with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Mitcham Junction conveyancing firm to help?
Most definitely. We can put you in touch with a Mitcham Junction conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Mitcham Junction premises is 50 & 52 Southcroft Road in September 2013. The tribunals own valuation determined that the premium payable should be £29,000 This case affected 2 flats. The unexpired term as at the valuation date was 86.11 and 60.64.