Unfortunately I am unable to travel far from Becontree. Is there a reason why all Becontree property lawyers aren't included on all lender panels?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. It led to lenders removing a number of firms from their official list of approved solicitors .
Our solicitor has uncovered a a legal deficiency with the lease for the flat we are purchasing in Becontree. The seller’s lawyers have offered defective title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that he must ensure that the mortgage company is willing to move forward with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
It has been 4 months since my purchase conveyancing in Becontree concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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.
Given that I am about to spend over three hundred thousand on a house in Becontree I would like to talk to a solicitor regarding thehouse move prior to giving the go ahead to the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor who will be carrying out your conveyancing in Becontree.There is no ‘factory style conveyancing’ - every client is an important person, not a case reference. The law firms that we put you in touch with believe that the fees you are quoted for residential conveyancing in Becontree should be the amount on the final invoice that you end up paying.
What are your top tips when it comes to choosing a Becontree conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Becontree conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Becontree conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be useful:
How experienced is the firm with lease extension legislation? Can they put you in touch with clients in Becontree who can give a testimonial?
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Becontree conveyancing firm to assist?
Most certainly. We can put you in touch with a Becontree conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Becontree residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The number of years remaining on the existing lease(s) was 61.36 years.