Unfortunately I am unable to travel far from Upper Clapton. Can you please explain the reason why all Upper Clapton conveyancing practitioners aren't automatically on all lender panels?
Before the recession most lenders displayed an attitude to risk which is different from today. The financial regulator in 2010 instigated a thematic review into mortgage fraud which in summary warned lenders: know the solicitors on your panel. Consequently, banks have subsequently soughtmore information from law firms concerning their operations and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Thousands of law practices have been excluded from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the minimum amount of transactions the lenders required.
My Upper Clapton lawyer has identified a discrepancy when comparing the surveyor’s assumptions in the valuation survey and what is in the conveyancing documents. My solicitor informs me that he needs to check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach right?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
It is 10 years ago since I bought my house in Upper Clapton. Conveyancing solicitors have just been retained on the sale but I am unable to find my title deeds. Is this a problem?
Don’t worry too much. First there is a possibility that the deeds will be with the lender or they may be in the possession of the conveyancers who oversaw your purchase. Secondly the chances are that the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Most conveyancing in Upper Clapton relates to registered property but in the rare situation where your property is not registered it adds to the complexity but is not insurmountable.
I bought my flat on 4 July and my personal details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in Upper Clapton expressed confidence that it would be recorded in less than a month. Are properties in Upper Clapton uniquely lengthy to register?
As far as conveyancing in Upper Clapton registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can differ subject to the party submitting the application, whether there are errors and whether the Land registry have to notify any 3rd persons or bodies. Currently approximately three quarters of submission are completed within two weeks but occasionally there can be longer delays. Registration occurs once the new owner has moved in to the premises thus an expedited registration is not usually an essential issue yet if it is urgent that the the registration takes place urgently then you or your conveyancer must contact the land registry and explain the circumstances.
I am looking for a ground for flat up to £305k and identified one round the corner in Upper Clapton I like with a park and transport links in the vicinity, the downside is that it only has 51 years on the lease. I can't really find anything else in Upper Clapton for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
What does commercial conveyancing in Upper Clapton cover?
Non domestic conveyancing in Upper Clapton covers a broad range of guidance, supplied by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.