Unfortunately I am unable to travel far from Molesey. I would like to know the logic why all Molesey conveyancers aren't automatically on all lender panels?
A decade ago most mortgage companies exhibited an approach to risk which is different from today. The financial regulator in 2010 conducted a thematic review into mortgage fraud which in summary warned lenders: know the lawyers on your panel. As a result, mortgage companies have subsequently looked to extract more data from law firms regarding their operations and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Many law practices have been excluded from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the minimum volume of transactions the lenders set.
Various online forums that I have visited warn that are the primary reason for hinderance in Molesey house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays in the conveyancing process. Searches are not likely to be the root cause of holding up conveyancing in Molesey.
How does conveyancing in Molesey differ for newly converted properties?
Most buyers of new build residence in Molesey approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is completed. This is because developers in Molesey tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Molesey or who has acted in the same development.
We're first time buyers - agreed a price, but the selling agent advised that the owners will only proceed if we appoint their chosen lawyers as they need an ‘expedited deal’. We would rather use a local conveyancer accustomed to conveyancing in Molesey
We suspect that the owner is unaware of this demand. Should the vendor desire ‘a quick sale', alienating a genuine buyer is likely to cause more damage than good. Speak to the vendors direct and explain that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you will continue to appoint your own,trusted Molesey conveyancing firm - rather thanthe ones that will provide their negotiator at the agency a referral fee or hit his conveyancing figures pre-set by head office.
Having had my offer accepted I require leasehold conveyancing in Molesey. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Molesey - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Molesey conveyancing firm to act on my behalf?
Most certainly. We can put you in touch with a Molesey conveyancing firm who can help.
An example of a Lease Extension decision for a Molesey premises is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.