Some advice if I may. My Shooter's Hill conveyancer is advising me that he has toapply for Shooter's Hill conveyancing searches stemming from the fact thatthe firm are on the Santanderapproved lawyer panel. Is my solicitor correct?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Shooter's Hill conveyancing searches.
I purchased a freehold property in Shooter's Hill but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Shooter's Hill and has limited impact for conveyancing in Shooter's Hill but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Can you clarify what the consequences are if my solicitor is removed from the Virgin Money Solicitor panel ahead of completing my conveyancing in Shooter's Hill?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Do commercial conveyancing searches reveal proposed roadworks that may affect a commercial estate in Shooter's Hill?
Its becoming the norm that commercial conveyancing solicitors in Shooter's Hill will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Shooter's Hill. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Shooter's Hill.
For each commercial conveyancing transaction in Shooter's Hill it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Shooter's Hill commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Shooter's Hill.
It has been 4 months since my purchase conveyancing in Shooter's Hill concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 property 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.
I am the registered owner of a first flat in Shooter's Hill. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
Most definitely. We are happy to put you in touch with a Shooter's Hill conveyancing firm who can help.
An example of a Lease Extension case for a Shooter's Hill premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.
Are there frequently found problems that you witness in leases for Shooter's Hill properties?
Leasehold conveyancing in Shooter's Hill is not unique. Most leases are drafted differently and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:
Clauses dealing with recovering service charges for expenditure on the building or common parts. Insurance obligations
You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Coventry Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.