Am I correct in assuming that the fact that my conveyancer in New Malden is not identified on my lender's conveyancing panel that there is a problem with the standard of his conveyancing?
That is most likely an incorrect assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed 76% 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 lawyer 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 New Malden conveyancing practice and ask them why they are no longer on the approved list for your lender.
I am the registered owner of a freehold residence in New Malden but still charged rent, why is this and what is this?
It is rare for properties in New Malden and has limited impact for conveyancing in New Malden 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 many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
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 extinguished.
Are there restrictive covenants that are commonly picked up as part of conveyancing in New Malden?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in New Malden. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I opted to have a survey done on a property in New Malden before instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies may not grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in New Malden. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in New Malden to see if the conveyancing will be more expensive.
What are your top tips when it comes to appointing a New Malden conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a New Malden conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with several firms including non New Malden conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be helpful:
If they are not ALEP accredited then why not? Can they put you in touch with clients in New Malden who can give a testimonial?
Having spent months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in New Malden. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We can put you in touch with a New Malden conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a New Malden property is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case affected 1 flat.
What is the reason for my conveyancing practitioner requiring various items of identification ahead of starting my conveyancing in New Malden?
New Malden lawyers are obliged by the Law Society, Solicitors Regulation Authority, HMLR and current AML legislation to record that the have verified the identity of their clients. It will also be a requirement of your lender if you are taking a mortgage. Furthermore they have to complete various forms, particularly those relating to stamp duty land tax and need to have details such as your full names, NI number and date of birth.