We have a mortgage agreed in principle with HSBC. Streatham conveyancing lawyers have been selected. How long does it take for HSBC to send the offer to the solicitor?
Some lenders take longer than others. Have HSBC conducted the valuation? Have you informed HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have paid off my mortgage with Co-operative. I assume I don't need a Streatham lawyer on the Co-operative panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Streatham solicitor - who is on the Yorkshire BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Streatham postcode. As you are getting a mortgage with Yorkshire BS, you could contact them to see if they have a list of approved surveyors in Streatham.
I have recentlybecome aware that Stirling Law have been shut down. They conducted my conveyancing in Streatham for a purchase of a freehold house 9 months ago. How can I establish that the property is not still registered in the name of the previous owner?
The quickest way to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Streatham conveyancing specialists.
How does conveyancing in Streatham differ for new build properties?
Most buyers of new build premises in Streatham come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is constructed. This is because builders in Streatham usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Streatham or who has acted in the same development.
In searching the web for the words conveyancing in Streatham it brings up many property lawyersin the vicinity. With so much choice what is the best way to find the right conveyancing solicitor for me?
The preferential method of seeking the right conveyancer is via trusted referral, so seek the counsel of friends and relatives who have purchased a property in Streatham or the local estate agent or mortgage broker. Costs for conveyancing in Streatham differ, so it's advisable to secure a minimum of three estimates from varying types of conveyancers. Be sure to secure confirmation that the costs are assured not to to be inflated.
Estate agents have just been given the go-ahead to market my basement flat in Streatham. Conveyancing lawyers have not yet been instructed, however I have recently received a yearly maintenance charge demand – what should I do?
It best that you discharge the service charge as usual because all ground rent and maintenance invoices will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until 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.
I inherited a basement flat in Streatham. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
Where there is a missing landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to assess the price.
An example of a Lease Extension case for a Streatham property is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 23.25 years.
I was advised by my lender that their approved lawyers operate no move no fee basis for conveyancing in Streatham. My purchase fell through yet the solicitors have requested search fees! They say the fees are independent!
in offering "no move no fee" Streatham conveyancing firms are waiving their fees for any work done. We should point out that this does not constitute an insurance scheme. Disbursements aren’t covered – where the conveyancing practitioner have to pay money out to other people, for example Streatham local search fees