My wife and I are purchasing a apartment in Lambeth. It might be a silly question but how we can trust a conveyancer? On the day of competition we have to send our life savings into their account. What protection do we have from them run away with our monies?
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.
My husband and I have organised a further advance on our home loan from Nationwide as we intend to conduct renovations to our home in Lambeth. Do we need to select a local Lambeth solicitor on the Nationwide conveyancing panel to deal with the paperwork?
Nationwide don't usually instruct firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide panel.
After months of negotiation I have agreed a price on a house in Lambeth. My mortgage broker pressured me to appoint their conveyancer. I paid an upfront payment of £150. A couple of days later, the property lawyer called me embarrassingly acknowledging that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am buying a new build apartment in Lambeth. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Lambeth
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision.
Given that I am about to part with hundreds of thousands of pounds on 3 bedroom house in Lambeth I wish to have a conversation with the lawyer concerning thetransaction in advance of giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor who will be conducting your property ownership legalities in Lambeth.There is no ‘factory style conveyancing’ - each client is unique individual, not a file reference. The practices that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in Lambeth should be the amount on the final invoice that you end up paying.
My husband and I are FTB’s - agreed a price, yet the agent advised that the owners will only issue a contract if we appoint their chosen lawyers as they want an ‘expedited deal’. We would rather use a high street solicitor who is familiar with conveyancing in Lambeth
It is highly unlikely the owners are behind this. If they want ‘a quick sale', taking such a hostile approach to a serious purchaser is is going to put the whole deal at risk. Contact the vendors directly and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are chain free (d) you wish to move quickly (e)however you will continue to appoint your preferred Lambeth conveyancing solicitors - as opposed tothose that will earn the estate agent a referral fee or hit his conveyancing targets set by head office.
Last August I purchased a leasehold flat in Lambeth. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a first floor flat in Lambeth. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
in cases where there is a missing landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the sum to be paid.
An example of a Lease Extension decision for a Lambeth property is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case affected 2 flats. The unexpired term as at the valuation date was 56 years.