We are buying a 3 bedroom flat in Raynes Park with a mortgage. We like our Raynes Park solicitor, however the lender advise he's not on their "panel". It appears that we have little choice but to use one of the lender panel conveyancing practices or keep our Raynes Park lawyer and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you 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 Raynes Park conveyancing solicitor to apply to be on the conveyancing panel.
I am selling my flat in Raynes Park. Does my solicitor need to be on the RBS conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the RBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I am buying a terrace house in Raynes Park. We would like to convert the garage to an office at the property.Will legal work on the property include checks to ascertain if these works are prohibited?
Your conveyancer should check the deeds as conveyancing in Raynes Park can on occasion identify restrictions in the title deeds which prevent categories of works or need the consent of a 3rd party. Many works need local authority planning permissions and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be wise to check these things with a surveyor before you commit yourself to a purchase.
I happen to be the only recipient of my late father’s will with all property in now in my sole name, including the my former home in Raynes Park. Conveyancing formalities meant that the Land Registry date was in August. I want to move. I do know about the CML 6 month 'rule', which means that my property ownership will be considered the same way as if I'd bought the property in August. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. many banks would take a sensible view as this obligation is principally there to pick up on subsales or the flipping of properties.
Is it the case that all Raynes Park solicitor firms on the Coventry BS conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Coventry BS approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some banks do list licenced conveyancers on their panel and in such a situation the firms would be governed by the Council of Licensed Conveyancers.
I have been advised by a few estate agents in Raynes Park to locate a property lawyer on your site. Is there a financial incentive for Estate Agents to promote your lawyers rather than alternative conveyancing organisations?
We refuse to give any commission for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission because a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
I need to retain a conveyancing solicitor for sale conveyancing in Raynes Park. I've land on a site which appears to be the perfect offering If it is possible to get all this stuff done via web that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Can you provide any top tips for leasehold conveyancing in Raynes Park from the point of view of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Raynes Park can be bypassed where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ representatives. If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Organising a re-issued share certificate can be a lengthy formality and frustrates many a Raynes Park home move. If a duplicate share certificate is required, you should approach the company officers or managing agents (where applicable) for this as soon as possible. In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Raynes Park leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord approving such changes. Where you dont have the consents in place do not contact the landlord without contacting your lawyer in advance. If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be concerned about purchasing a flat where a dispute is unresolved. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unsettled. You believe that you know the number of years remaining on your lease but you should verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is less than 75 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
I inherited a basement flat in Raynes Park. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to judgment on the premium.
An example of a Lease Extension case for a Raynes Park premises is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case related to 1 flat. The unexpired term as at the valuation date was 60.43 years.