The Wandsworth conveyancing solicitors that just started acting on my house acquisition in Wandsworth have suddenly shut down. They were on acting for me because I had to have a lawyer on the Nottingham conveyancing panel and my previous Wandsworth lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Nottingham conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
My wife and I are close to exchanging contracts on the sale of our house in Wandsworth and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any high street Wandsworth lawyer would know this is not the case. For the life of me I don't know why the buyers used a national conveyancing outfit rather than a conveyancing solicitor in Wandsworth. We have lived in Wandsworth for three years we know that this is a non issue. Should we contact our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I have been on the look out for a ground for flat up to £235,500 and found one near me in Wandsworth I like with open areas and transport links in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in Wandsworth in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan the shortness of the lease will likely be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
Is it possible to switch solicitor as I need to select a firm on the HSBC Bank conveyancing list. I was using a high street conveyancing solicitor in Wandsworth round the corner but he is not accepted by HSBC Bank
It would be our pleasure to assist you select a conveyancing solicitor in Wandsworth on the HSBC Bank panel. Please note that the solicitors that we list do not pay us commission if you instruct them and are fully regulated by the SRA who oversee all conveyancing solicitors in Wandsworth. In making use of the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Wandsworth.
One month into purchasing a residence in Wandsworth. Conveyancing lawyer has called to say the title is "Leasehold". Does this impact the marketability of the house?
Wandsworth conveyancing does not ordinarily involve leasehold houses. The key consideration here is the remaining lease term and the ground rent. If it's 999 years with a peppercorn rent, it's almost the same as freehold, so it shouldn't impact the value significantly.
At the other end of the spectrum, if it's, say, fifty five years it is bound to have a adverse impact on the saleability, and most likely wouldn't be acceptable to the lender. The remaining lease term and ground rent will be stated in the lease to be supplied to your conveyancing practitioner.