Am I correct in assuming that the fact that my solicitor in Thornton Heath is not on my lender's solicitor panel that there is a problem with the standard of her work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Thornton Heath conveyancing practice and enquire why they are no longer on the approved list for your lender.
Finally the sale completed on my house in Thornton Heath last September but our buyer keeps e-mailing every few hours to moan that his lawyer is waiting to hear from mine. What should have happened following completion?
After completion of your sale your lawyer should send the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. Where appropriate, your lawyer must also confirm that the home loan has been discharged to the purchasers conveyancers. There are no post completion requirements just for conveyancing in Thornton Heath.
What is the best way to investigate if the solicitor handling my conveyancing in Thornton Heath is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for National Westminster Bank thus paying £187.00 plus VAT in supplemental legal fees.
Feel free to take advantage of the search tool on this web page. Please choose the mortgage company and type ‘Thornton Heath’ or your location and you will be presented with a number of lawyer based in Thornton Heath or nearest you.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Thornton Heath is where the house is located. What do you suggest?
Flying freeholds in Thornton Heath are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Thornton Heath you must be sure that your lawyer goes through the deeds diligently. Your lender 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 residence.
I own a ground floor flat in Thornton Heath. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Most definitely. We are happy to put you in touch with a Thornton Heath conveyancing firm who can help.
An example of a Lease Extension decision for a Thornton Heath premises is Ground Floor Flat 14 Lodge Road in October 2013. the tribunal held that the price payable for the acquisition of the extended lease of the property should be £12,590 .00 This case affected 1 flat. The unexpired lease term was 69.46 years.
In relation to leasehold conveyancing in Thornton Heath what are the most common lease defects?
Leasehold conveyancing in Thornton Heath is not unique. All leases are unique and legal mistakes in the legal wording can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
A provision to repair to or maintain elements of the building Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Barnsley Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.
We are midway through purchasing a property in Thornton Heath. Conveyancing solicitor has phoned to say the title is "Leasehold". Does this impact the salability of the property?
Thornton Heath conveyancing does not normally involve leasehold houses. The key factor here is the length of lease and the ground rent. If it's 999 years with a peppercorn rent, it's virtually freehold, so it’s unlikely to affect the value significantly.
At the other end of the spectrum, if it's, say, 50 years it is bound to have a significant impact on the value, and most likely wouldn't be acceptable to the bank. The length of lease and ground rent will be stated in the lease provided to your conveyancer.