Am I correct in assuming that the fact that my solicitor in Seven Kings is not listed on my lender's solicitor panel that there is a problem with the standard of the firm’s conveyancing?
That would most likely be an incorrect assumption to make. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator indicated 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 solicitor 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 Seven Kings conveyancing practice and ask them why they are no longer on the approved list for your bank.
We are buying our first property. The conveyancing practitioner has messagedto ask if we wish to order additional conveyancing searches. Unfortunately we have no idea as to what's recommended for conveyancing in Seven Kings
The scope of Seven Kings conveyancing searches depends primarily on the premises, the location, the likelihood of any of these risks, your knowledge of the area and risks, your overall appetite to risk. What is important is that you adequately appreciate what information each search could provide. You may then decide if you consider that you need that search. If in doubt, ask your conveyancer to guide you.
Why do I have to pay up front for my conveyancing in Seven Kings?
Where you are retaining lawyers for conveyancing in Seven Kings your solicitor will request that you place them with monies to cover the the cost of the conveyancing searches. Generally this is asked for to cover the fees of the Local Authority Search. If any down payment is as part of the total price then this will be required immediately before exchange of contracts. Any further balance that is needed will be payable a few days ahead of the completion date.
The Seven Kings conveyancing solicitors that just started acting on my house acquisition in Seven Kings have suddenly closed. I only went with them because I needed a firm on the Santander conveyancing panel and my preferred Seven Kings lawyer was not. I paid them 275 plus VAT in advance. What are my options?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Santander conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Seven Kings is the location of the property. Can you offer any assistance?
Flying freeholds in Seven Kings are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Seven Kings you must be sure that your lawyer goes 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 Seven Kings may ascertain 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 residence.
Can you provide any advice for leasehold conveyancing in Seven Kings from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Seven Kings can be reduced where you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers’ solicitors. If you are supposed to have a share in the Management Company, you should ensure that you have the original share document. Obtaining a re-issued share certificate is often a lengthy process and delays many a Seven Kings home move. Where a duplicate share is necessary, do contact the company officers or managing agents (where relevant) for this as soon as possible. If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of 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 clearly preferable to present the dispute as over rather than ongoing. Many freeholders or managing agents in Seven Kings charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Seven Kings.
We have reached the end of our tether in seeking a lease extension in Seven Kings. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to calculate the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Seven Kings flat is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The number of years remaining on the existing lease(s) was 61.36 years.