I am nearing exchange of contracts for my apartment in West Wickham and the EA has just called to say that the purchasers are switching conveyancer. The reason given is that the mortgage company will only engage with property lawyers on their conveyancing panel. Why would a leading lender only work with certain solicitors rather the firm that they want to select for their conveyancing in West Wickham ?
Banks have always had panels of law firms that can act for them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders blame a rise in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
What does a local search reveal regarding the house we're purchasing in West Wickham?
West Wickham conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance PSG The local search is essential in every West Wickham conveyancing purchase; that is if you wish to avoid any nasty surprises after you move into your new home. The search should reveal information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
We're first time buyers - had an offer accepted, but the estate agent has warned us that the owners will only issue a contract if we instruct the agent's chosen lawyers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a local solicitor used to conveyancing in West Wickham
It is improbable the sellers are driving this. Should the vendor desire ‘a quick sale', alienating a genuine buyer is going to damage their objectives. Speak to the owners direct and explain that (a)you are keen to buy (b)you are ready to go, with finances in place © you are chain free (d) you intend to proceed fast (e)however you will continue to appoint your own,trusted West Wickham conveyancing lawyers - not the ones that will give the negotiator at the agency a kickback or achieve conveyancing figures set by HQ.
There are only 68 years remaining on my lease in West Wickham. I now want to extend my lease but my landlord is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to track down the lessor. In some cases a specialist should be useful to conduct investigations and prepare an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court covering West Wickham.
Despite our best efforts, we have been unsuccessful in negotiating a lease extension in West Wickham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a West Wickham conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a West Wickham property is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case was in relation to 2 flats. The number of years remaining on the existing lease(s) was 76.75 and 88.83.
What is the reason for my property lawyer requiring numerous items of identification ahead of starting my conveyancing in West Wickham?
West Wickham property lawyers are required by the Law Society, Solicitors Regulation Authority, HM Land Registry and current AML legislation to record that the have verified the identity of their clients. It will also be a requirement of your lender if you are obtaining a mortgage. In addition they have to complete various forms, particularly those relating to stamp duty land tax and need to have information such as your full names, national insurance number and date of birth.