I am expecting a DIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Old Coulsdon solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Old Coulsdon solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I can not work out if my bank requires a lease extension. I have called into my local Old Coulsdon bank branch on numerous occasions and was told they are content with the situation and they will lend. My Old Coulsdon conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend based on their published requirements. I simply don't know who is right.
As long as the solicitor is on the lender panel, they must adhere to the CML Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After weeks of negotiation I have agreed a price on a house in Old Coulsdon. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an advanced payment of £150. Shortly after, the lawyer contacted me to say that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have todaydiscovered that Arc property Solicitors have been shut down. They conducted my conveyancing in Old Coulsdon for a purchase of a leasehold apartment 9 months ago. How can I be sure that the property is registered correctly in the name of the former proprietor?
The quickest way to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Old Coulsdon conveyancing specialists.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Old Coulsdon is the location of the property. What do you suggest?
Flying freeholds in Old Coulsdon are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Old Coulsdon you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Old Coulsdon 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 premises.
What does commercial conveyancing in Old Coulsdon cover?
Non domestic conveyancing in Old Coulsdon incorporates a wide range of guidance, provided by qualified solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £400,000 apartment in Old Coulsdon in just under a week. The freeholder has quoted £396 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Old Coulsdon?
Old Coulsdon conveyancing on leasehold apartments nine out of ten times results in administration charges raised by freeholders :
Completing pre-contract questions
Where consent is required before sale in Old Coulsdon
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the leaseholder of a second floor flat in Old Coulsdon. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
in cases where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Old Coulsdon property is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case related to 3 flats. The unexpired residue of the current lease was 75 years.
My wife and I are disposing of a Old Coulsdon bungalow we inherited ten years ago in 2009. I have over 12 years conveyancing know-how and, although retired, wish to conduct my own conveyancing. The purchaser's solicitor has informed me that their bank will not allow you to do your own conveyancing mandating that the funds to be sent to a solicitor's bank account.
Lending instructions to solicitors from all CML members state that If the seller does not have legal representation the buyer’s lawyers should check whether the mortgage company needs to be told so that a decision can be reached as to whether they are willing to proceed.