My wife and I are hoping to purchase a flat in Mitcham and are in fact using a Mitcham conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Virgin Money have this evening contacted us to advise us that they have now hit a problem as our Mitcham solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Mitcham lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Me and my partner are purchasing a apartment in Mitcham. I might seem paranoid but how we can trust a conveyancer? On completion day we have to deposit money into their account. What is the protection we have from them run away with our deposit?
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.
I am the sole beneficiary of my late grandmother’s will and I have everything in my name now, including the house in Mitcham. Conveyancing formalities meant that the Land Registry date was in July. I plan to dispose of the house. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship could be regarded the same way as though I had purchased the house in July. Is the property unsalable for six months?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. How sensible a view lenders take of it, depend on the lender as this requirement is chiefly there to capture subsales or the flipping of property.
I am buying a property in Mitcham. An unusual aspect is that the roof has a solar panel. Nottingham have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Nottingham your lawyer must comply with the formal requirements contained in Section 2 of UK Finance Lenders’ Handbook for Nottingham. The CML Handbook includes minimum conditions for solar panel roof-space leases, and lawyers are required to report to Nottingham where a lease does not comply with these conditions. The requirements relate to the installation of panels on properties countrywide and is not isolated to Mitcham.
I have a semi-detached Victorian house in Mitcham. Conveyancing practitioner acted for me and Barclays Direct. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Mitcham and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing solicitor who completed the work.
Given that I will soon part with 450k on a property in Mitcham I wish to talk to a conveyancer about mytransaction before giving the go ahead to the firm. Can this be arranged?
Absolutely - we would be pleased to talk to you we do not take any clients on without you liaising with the solicitor due to be carrying out your conveyancing in Mitcham.There is no ‘factory style conveyancing’ - every client is unique person, not a matter reference. The solicitors that we put you in touch with believe that the fees you are quoted for your conveyancing in Mitcham should be the amount on the final invoice that you are charged.
My wife and I purchased a leasehold flat in Mitcham. Conveyancing and Halifax mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Mitcham who previously acted has long since retired. What should I do?
The first thing you should do is make enquiries of HMLR to make sure that this person is indeed the new freeholder. There is no need to instruct a Mitcham conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Notwithstanding our best endeavours, we have been unsuccessful in negotiating a lease extension in Mitcham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We are happy to put you in touch with a Mitcham conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Mitcham flat is 50 & 52 Southcroft Road in September 2013. The tribunals own valuation determined that the premium payable should be £29,000 This case was in relation to 2 flats. The number of years remaining on the existing lease(s) was 86.11 and 60.64.