In the event thatI were to buy a freehold propertyin Tolworth for cash and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Tolworth?
The sole reduction in fees you would make on is the disbursement for searches. Your solicitor is obliged to do the vast majority of work - money laundering, communicating with the vendors solicitor, SDLT submission, register the property etc. A marginal saving might be made by not having to register a charge but it won't be meaningful.
We wanted to use a property lawyer in Tolworth for our house move. Our financial adviser has since advised us that our bank Halifax won't deal with them. Surely this is unduly restrictive?
Before the recession most lenders had a different appetite for risk. Almost all Tolworth conveyancing firms would have been on many mortgage company panels. The Financial Services Authority in 2010 completed a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more data from law firms concerning their operations and the individuals who work for them as well as set certain criteria such a completing on a minimum number of conveyancing. Many Tolworth conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Tolworth is amongst the thousands of areas where the conveyancers we list are on the panel for Halifax.
Is it the case that all Tolworth CQS (Conveyancing Quality Scheme) solicitors are on the UBS conveyancing list of approved solicitors?
It is true that some lenders now make use of CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
We had chosen conveyancers locally in Tolworth on the Kent Reliance solicitor panel. They have just invoiced me a separate amount for handling the Kent Reliance mortgage. Is this an additional conveyancing fee specified by Kent Reliance?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your conveyancing practitioner can charge a fee for this. The fee is not dictated by Kent Reliance but by your Tolworth lawyer. Some firms on the Kent Reliance panel will levy an ‘acting for lender’ fee but plenty of firms incorporate it on their overall fee.
I have instructed a Tolworth property lawyer having checked that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money 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 conveyancer 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 Tolworth postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Tolworth.
In my capacity as executor for the will of my aunt I am disposing of a property in Cardiff but live in Tolworth. My solicitor (approximately 300 kilometers from merequires that I sign a stat dec before the transaction finalising. Could you suggest a conveyancing practitioner in Tolworth who can witness this legal document for me?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are based in Tolworth
Do you have any top tips for leasehold conveyancing in Tolworth with the aim of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Tolworth can be avoided where you instruct lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers’ conveyancers. If there is a history of conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than ongoing. The majority of freeholders or managing agents in Tolworth levy fees for providing management packs for a leasehold home. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Tolworth. Some Tolworth leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
Notwithstanding our best endeavours, we have been unsuccessful in negotiating a lease extension in Tolworth. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We are happy to put you in touch with a Tolworth conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Tolworth premises 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 related to 1 flat.
I'm selling a property in Tolworth. I can find my conveyancer's company on the CLC list, but I can't see my lawyer's name on the list. Is this a big problem?
Not all staff in the company must be listed by the regulator. As long there is a manager qualified to 'oversee' the transaction, the actual day-to-day activity can be undertaken by unlicensed staff.