We are purchasing a property in Waltham Abbey. I might seem paranoid but how we can trust a conveyancer? At some point we will need to send our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Can I be sure that the Waltham Abbey conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Waltham Abbey obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor handling your transaction.
I have today made my last payment due on my mortgage with Virgin Money. I assume I don't need a Waltham Abbey property lawyer on the Virgin Money panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
It has been 3 months following my purchase conveyancing in Waltham Abbey concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Waltham Abbey is the location of the property. What do you suggest?
Flying freeholds in Waltham Abbey are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Waltham Abbey you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Waltham Abbey may determine 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 need to instruct a conveyancing solicitor for remortgage conveyancing in Waltham Abbey. I've chance upon a site which seems to have the perfect answer If there is a chance to get all this stuff completed via email that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £375,000 garden flat in Waltham Abbey in six days. The freeholder has quoted £408 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Waltham Abbey?
Waltham Abbey conveyancing on leasehold apartments more often than not requires the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to assist. They are entitled to levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the charge is technically not due. In reality one has little option but to pay whatever is demanded should you wish to complete the sale of your home.
I have given up trying to reach an agreement for a lease extension in Waltham Abbey. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We are happy to put you in touch with a Waltham Abbey conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Waltham Abbey premises is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case affected 2 flats. The unexpired residue of the current lease was 69.26 years.
My 20yr old son is embarking on her first house purchase, he had his mortgage in principle. When the offer was accepted on apartment we telephoned the mortgage company to move forward with his. I was very surprised to learn that mortgage lenders do not accept all lawyer, they must be on their panel, is this correct?
Mortgage Companies normally imposes restrictions either the type or the number of conveyancing solicitors on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Waltham Abbey solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.