Me and my partner are intending to acquire a 1 bedroom flat in Putney Heath with a mortgage. We would like to retain our Putney Heath lawyer, but the bank advise she’s not on their "panel". We have to appoint one of the bank panel conveyancing practices or continue with our Putney Heath property lawyer as well as pay for one of their panel firms to act for them. We consider that this is unjust; can we not require that the lender use our Putney Heath lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Putney Heath conveyancing lawyer to apply to be on the conveyancing panel.
It is is a decade since I bought my house in Putney Heath. Conveyancing solicitors have recently been instructed on the sale but I can't track down the title deeds. Is this a major issue?
Don’t worry too much. First the deeds may be with the mortgage company or they may be in the possession of the solicitor who handled your purchase. Secondly in all probability the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. Most conveyancing in Putney Heath involves registered property but in the rare situation where your property is not registered it adds to the complexity but is resolvable.
Forgive me if this question is silly but I am wet behind the ears as a 1st time purchaser of a two bedroom flat in Putney Heath. Do I receive the keys to the house on completion from my conveyancer? If so, I will appoint a High Street conveyancing solicitor in Putney Heath?
On the day of completion you will not be required to go to the conveyancers office in Putney Heath. Your solicitors will transfer the completion advance to the owner’s solicitors, and once they have received this, you should be able to collect the keys from the property Agents and move into your new home. This tends to happen early afternoon.
I am expecting a AIP from HSBC 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 HSBC recommend any Putney Heath solicitors on the HSBC conveyancing panel, or is it better to go independently?
You will need to appoint Putney Heath solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
I can not fathom if my mortgage offer requires a lease extension. I have called my Putney Heath building society branch on numerous occasions and was told it does not affect the mortgage offer and they would lend. My Putney Heath conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend based on their specific requirements. I simply don't know who is right.
The property lawyer has to comply with the Council of Mortgage Lenders’ Handbook section two conditions for your bank. 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
It has been four months since my purchase conveyancing in Putney Heath took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. 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 residence 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 partner has encouraged me to use his conveyancers in Putney Heath. Should I find my own conveyancer?
There are no two ways about it the ideal way to find a conveyancing lawyer is to seek referrals from friends or relatives who have actually used the solicitor that you are considering.
What advice can you give us when it comes to finding a Putney Heath conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Putney Heath conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Putney Heath conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:
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What are the costs for lease extension work? Can they put you in touch with clients in Putney Heath who can give a testimonial?
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Putney Heath conveyancing firm to assist?
in cases where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to decide the price.
An example of a Freehold Enfranchisement case for a Putney Heath property is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case affected 3 flats. The unexpired term as at the valuation date was 66.25 years.