Unfortunately I am unable to travel far from Addington. Please explain the reason why all Addington conveyancers aren't automatically on all bank panels?

Pre- 2008 most banks displayed an attitude to risk which differs from the current day. The Financial Services Authority in 2010 conducted a thematic review into property fraud which concluded: know the conveyancing practitioners on your panel. As a result, lenders have subsequently requiredmore data from law firms regarding their operations and the staff who work for them and set certain criteria such as completing a minimum volume of transactions. Many firms have been excluded from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the criteria of amount of transactions the lenders insisted on.

Just bought a semi-detached house in Addington , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Addington conveyancing solicitor works at snail pace, so I want to be sure the registration is concluded.

There is nothing unique about conveyancing in Addington registration formalities. As opposed to being determined by geographic area, timeframes can adjust according to the party submitting the application, whether there are errors and whether the Land registry must send notices to any 3rd parties. Currently in the region of 80% of submission are completed within 12 days but some can be subject to extensive delays. Registration occurs once the new owner has moved in to the premises so 'speed' is not typically an essential issue but if it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for the application to be prioritised.

I'm buying my first flat in Addington with the aid of help to buy. The sellers would not move on the amount so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not reveal to my conveyancer about this extras as it could impact my loan with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder 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.

Is it best to choose a Addington conveyancing lawyer based in the area that I am purchasing? I have an old university friend who can handle the conveyancing but they are based a couple of hundredkilometers away.

The primary upside of using a high street Addington conveyancing firm is that you can visit the firm to sign documents, deliver your ID and apply pressure on them where appropriate. Having local Addington know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and in the main were content that must trump using an unfamiliar Addington conveyancing solicitor just because they are Addington based.

I have given up trying to purchase the freehold in Addington. Can the Leasehold Valuation Tribunal adjudicate on premiums?

in cases where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to decide the price payable.

An example of a Freehold Enfranchisement matter before the tribunal for a Addington flat is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case affected 2 flats. The remaining number of years on the lease was 76.75 and 88.83.

What makes a Addington lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Addington. Most leases are individual and drafting errors can result in certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

A provision for the recovery of money spent for the benefit of another party. Maintenance charge proportions which don’t add up to the correct percentage

You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Mortgage Works, and TSB all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.