My husband and I are acquiring a newly constructed flat in Raynes Park and my solicitor is advising me that she has to the mortgage company to reveal incentives from the builder. The Estate Agents are hassling me to sign contracts and I would rather not prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Why do I have to pay up front for conveyancing in Raynes Park?
If you are buying a property in Raynes Park your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any down payment is as part of the purchase price then this will be needed shortly ahead of exchange of contracts. The final balance that is needed will be payable shortly before completion.
Are the BSA intent on creating a search tool with a view to to identify firms on the Loughborough BS conveyancing panel for example in Raynes Park?
We would not expect to be advised of any plans on the part of the BSA to promote such a tool.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Raynes Park?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Raynes Park. 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 have just appointed agents to market my ground floor flat in Raynes Park. Conveyancing has not commenced, but I have recently had a half-yearly maintenance charge invoice – Do I pay up?
It best that you clear the service charge as usual as all rents and maintenance payments should be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Having spent years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Raynes Park. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to arrive at the amount due.
An example of a Lease Extension decision for a Raynes Park residence 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 affected 1 flat. The unexpired term as at the valuation date was 60.43 years.
I need to change lawyers as my Raynes Park lawyer is not on the bank's approved list of conveyancing solicitors. How simple is it to change conveyancer?
If you haven't yet appointed a conveyancer to start work and at this stage simply received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Raynes Park that you're thinking of instructing.