I am selling my apartment in Surbiton and the estate agent has just called to say that the buyers are swapping law firm. I am told that this is due to the fact that the bank will only deal with solicitors on their conveyancing panel. Why would a major mortgage company only deal with specific lawyers rather the firm that they want to appoint for their conveyancing in Surbiton ?
Banks have always had an approved set of law firms that can represent them, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Banks blame a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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. The purchasers are not going to have any impact on this.
Please help. My Surbiton conveyancer is advising me that she is duty bound toorder Surbiton conveyancing searches becausethe firm are on the Nat Westapproved lawyer panel. Is my conveyancer correct?
You have limited options available to you. As you are taking a home loan with a lender your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Surbiton conveyancing searches.
My wife and I have a terraced Edwardian property in Surbiton. Conveyancing solicitor acted for me and HSBC Bank. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the matching address. Is it worth asking HSBC Bank to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Surbiton and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing practitioner who carried out the work.
I am selling my house. My former lawyers have shut. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Surbiton if that makes a difference.
Do use our search tool to help you find a solicitor for your conveyancing in Surbiton. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
My father-in-law has encouraged me to appoint his conveyancers in Surbiton. Do I follow his advice?
There are no two ways about it the ideal way to find a conveyancing lawyer is to seek referrals from friends or relatives who have actually previously instructed the solicitor you're are thinking of instructing.
I am tempted by the attractive purchase price for a two flats in Surbiton which have in the region of fifty years unexpired on the leases. Do I need to be concerned?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the saleability of the lease deteriorates and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena.
I am the leaseholder of a basement flat in Surbiton. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Where there is a missing freeholder 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 First-tier Tribunal (Property Chamber) to decide the premium.
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.