My wife and I are planning to buy a property in Newbury Park and are in fact using a Newbury Park conveyancing firm. Within the last couple of days our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. TSB have this afternoon contacted us to advise us that they have now hit a problem as our Newbury Park lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also act for the mortgage company. 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 Quality Scheme. Your property lawyer should contact your bank 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 and you may continue to use your own Newbury Park solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I own a freehold property in Newbury Park but nevertheless pay rent, why is this and what is this?
It is rare for properties in Newbury Park and has limited impact for conveyancing in Newbury Park but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I used Wolstenholmes several years ago for my conveyancing in Newbury Park. Now, I need the files but cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Newbury Park of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
My cousin has suggested that I appoint his conveyancing solicitors in Newbury Park. Do I take his guidance?
There are no two ways about it it’s preferable to select a conveyancing lawyer is to have recommendations from friends or family who have actually used the conveyancer that you are considering.
I have just appointed agents to market my 2 bed flat in Newbury Park. Conveyancing lawyers have not yet been instructed, however I have just had a half-yearly service charge demand – Do I pay up?
It best that you pay the invoice as usual because all ground rent and maintenance payments should be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
We have reached the end of our tether in trying to purchase the freehold in Newbury Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a Newbury Park conveyancing firm who can help.
An example of a Lease Extension case for a Newbury Park property is 104 Coventry Road in July 2014. The Tribunal determined that the lease extension permium should be £22,896.15 This case was in relation to 1 flat. The unexpired lease term was 60.29 years.