My mortgage broker requires my Wimbledon lawyer’ panel reference for the Lloyds conveyancing panel. Can you suggest how I find this out. I have e-mailed my local Wimbledon office but they cant find it on their system.
The sensible thing to do is ask for this information from your Wimbledon conveyancer . Most Wimbledon law practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each lender.
My Wimbledon solicitor has identified a difference between the information in the valuation report and what is in the legal papers for the property. My solicitor informs me that he is obliged to ensure that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance appropriate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements 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.
We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would much rather instruct a specialised conveyancing solicitor in Wimbledon?
You should check but the the likelihood is that give you one of their panel lawyers if you want the "fee-free" incentive. Contact the bank to see if they offer you a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor in Wimbledon.
I'm buying a new build house in Wimbledon with a loan from Aldermore. The sellers would not reduce the amount so I negotiated 6k of additionals instead. The property agent told me not to tell my lawyer about this extras as it may jeopardize my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have recently realised that I have Fifty years left on my flat in Wimbledon. I now wish to get lease extension but my landlord is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you have used your best endeavours to track down the lessor. For most situations an enquiry agent would be helpful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court covering Wimbledon.
I am the proprietor of a two-bedroom flat in Wimbledon. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Wimbledon conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Wimbledon residence is 629 Garratt Lane in September 2014. The consideration payable for the acquisition of the freehold of the subject property was the sum £21,302.74. This represented a valuation of the freehold in the sum of £23,864 from which the sum of £2561.27 has been deducted in respect of certain costs in repairing and insuring the premises This case affected 3 flats. The unexpired term was 72.94 years.
I am considering instructing a web based solicitor as opposed to a Wimbledon conveyancing practice. Should I ‘stay local’?
Various benefits exist in being able to pop in to a local Wimbledon conveyancing solicitor for example
- signing papers same day
- getting face-to-face explanations of things that need explaining
- the ability to raise concerns if things need to addressed
When checking quotes, look out for hidden extras. Most decent Wimbledon high street solicitors give an all-inclusive figure. Many online agents seem to offer discounted fees, yet have burried 'extras' in the fine print.