I am selling my apartment in Surbiton and the estate agent has just e-mailed to advise that the buyers are appointing a new property lawyer. I am told that this is due to the fact that the mortgage company will only work with solicitors on their approved list. On what basis would a leading mortgage company only engage with specific law firms rather the firm that they want to choose to handle their conveyancing in Surbiton ?
UK lenders have always had panels of law firms that can represent them, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any impact on this.
Due to complete my purchase in Surbiton next Monday. My conveyancing practitioner now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These obligations are not unique to conveyancing in Surbiton.
We are downsizing from our home in Surbiton and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A high street Surbiton conveyancer would know this is not the case. It does beg the question why the purchasers are using a nationwide conveyancing practice as opposed to a conveyancing solicitor in Surbiton. We have lived in Surbiton for 5 years we know that this is a non issue. Should we get in touch with our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I used Wolstenholmes several years past for my conveyancing in Surbiton. I now require my papers but cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Surbiton of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Surbiton differ for new build properties?
Most buyers of new build property in Surbiton contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is ready to move into. This is because builders in Surbiton usually purchase the site, 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 property lawyers 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 accustomed to new build conveyancing in Surbiton or who has acted in the same development.
Do you have any top tips for leasehold conveyancing in Surbiton with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Surbiton can be avoided where you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers’ representatives. In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Surbiton leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Where you dont have the paperwork to hand do not contact the landlord without contacting your solicitor before hand. If you hold a share in a the freehold, you should ensure that you are holding the original share certificate. Organising a new share certificate is often a time consuming formality and frustrates many a Surbiton conveyancing deal. If a new share certificate is necessary, you should approach the company officers or managing agents (where applicable) for this sooner rather than later. Many freeholders or Management Companies in Surbiton charge for providing management packs for a leasehold home. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Surbiton.
Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in Surbiton. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Surbiton conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Surbiton flat is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.