My partner and I are planning to purchase a home in Mitcham Junction and are in fact using a Mitcham Junction conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. The Royal Bank of Scotland have this afternoon contacted us to advise us that there is now an issue as our Mitcham Junction lawyer is not on their conveyancing panel. Please explain?
If you are buying a property with the assistance of a mortgage it is normal for the purchasers' solicitors 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 Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. 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 Junction lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Would the conveyancing practitioners that you recommend carry out auction conveyancing in Mitcham Junction?
We know of a number of niche solicitors we can put you in touch with those specialising in auction conveyancing. Mitcham Junction is one of our areas of where our lawyers have a presence.
Should my solicitor be raising questions concerning flooding during the conveyancing in Mitcham Junction.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Mitcham Junction. Some people will acquire a house in Mitcham Junction, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, but there are a number of checks that may be initiated by the buyer or by their lawyers which should figure out the risks in Mitcham Junction. The conventional set of property information forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a standard question of the seller to determine if the property has suffered from flooding. If the property has been flooded in past which is not disclosed by the owner, then a buyer could issue a compensation claim stemming from an inaccurate reply. A purchaser’s lawyers should also order an enviro search. This should higlight if there is a recorded flood risk. If so, more detailed investigations should be made.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, no chain conveyancing. Mitcham Junction is the location of the property. Can you shed any light on this issue?
Flying freeholds in Mitcham Junction are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mitcham Junction you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mitcham Junction may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
As co-executor for the will of my uncle I am disposing of a property in Newport but live in Mitcham Junction. My solicitor (approximately 250 miles awayrequires that I sign a stat dec prior to the transaction finalising. Can you recommend a conveyancing lawyer in Mitcham Junction who can witness and place their company stamp on the document?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are based in Mitcham Junction
I am a negotiator for a busy estate agent office in Mitcham Junction where we have witnessed a few flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Mitcham Junction conveyancing solicitors. Could you clarify whether the owner of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
After months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Mitcham Junction. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We can put you in touch with a Mitcham Junction conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Mitcham Junction flat is 50 & 52 Southcroft Road in September 2013. The tribunals own valuation determined that the premium payable should be £29,000 This case affected 2 flats. The number of years remaining on the existing lease(s) was 86.11 and 60.64.