I am 3 weeks into the sale of my home in Soho and the estate agent has just e-mailed to warn that the purchasers are switching solicitor. I am told that this is due to the fact that the mortgage company will only engage with property lawyers on their approved list. Why would a big named mortgage company only work with certain solicitors rather the firm that they want to select to handle their conveyancing in Soho ?
UK lenders have always had an approved set of law firms that can act for them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lending institutions point to the increase in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
I have given 2 months notice to my current landlord and have to vacate my let out property in Soho by the end of next month. Conveyancing for my house purchase has just started. Is it possible to complete in 5 weeks as don't want to have to find short term accommodation?
It is unwise to serve notice for your lease until your lawyer suggests that you should. If you have not already done so, notify to your conveyancer and request that they chase the other side, try to an acceptable time-line that everyone will look to achieve
What can a local search inform me concerning the property my wife and I purchasing in Soho?
Soho conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Searches UK The local search plays an important part in most Soho conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search will supply information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
I am downsizing from my house. My past lawyers has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Soho if that makes things easier.
Do use our search tool to help you choose a solicitor for your conveyancing in Soho. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
I am intending to rent out my leasehold apartment in Soho. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Notwithstanding that your last Soho conveyancing lawyer is no longer available you can review your lease to see if you are permitted to let out the property. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you must seek consent via your landlord or other appropriate person prior to subletting. This means that you cannot sublet without first obtaining consent. The consent is not allowed to be unreasonably turned down. If the lease does not allow you to sublet you should ask your landlord for their consent.
I inherited a two-bedroom flat in Soho. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the LVT to assess the price.
An example of a Freehold Enfranchisement case for a Soho residence is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case was in relation to 1 flat. The unexpired lease term was 73.26 years.
I am purchasing a flat mortgage free. My solicitor has been handed with two distinct evidence of photographic identification, bank statement, numerous utility bills. Now he requires a copy from a probate lawyer acknowledging that the money is legitimate and that it has come from inheritance and not via illegitimate means.
In today’s world you will not be able to complete any Soho conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Evidence of your source of funds is required under Money Laundering laws.
