I am buying a brand new flat in Thornton Heath and my solicitor is telling me that she has to the lender to reveal incentives from the seller. The Estate Agents are hassling me to sign contracts and I don't want to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Can you explain why leasehold purchase conveyancing in Thornton Heath costs more?
Thornton Heath leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I have been told that property searches are the main cause of hinderance in Thornton Heath conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Local searches are not likely to feature in any holding up conveyancing in Thornton Heath.
Me and my brother purchased a renovated Victorian property in Thornton Heath. Conveyancing practitioner represented me and Santander. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the matching property. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Thornton Heath and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing practitioner who completed the work.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Thornton Heath is the location of the property. Can you shed any light on this issue?
Flying freeholds in Thornton Heath are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Thornton Heath you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Thornton Heath may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am thinking of appointing a conveyancing solicitor in Thornton Heath for my home move. Is there any facility to check a solicitor's record with the legal regulator?
Members of the public can find documented Solicitor Regulator Association (SRA) determinations arising from investigations started on or after 1 January 2008. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The regulator could recorded telephone calls for training purposes.