Can conveyancing in Erith to be completed inside 3 weeks?
In a situation where the seller is applying time constraints for your conveyancing it is highly recommended that your lawyer is familiar with the area as they will benefit local contacts and knowledge. It is possible that they would have conducted previoushouses in the same street. Therefore consider using a Erith conveyancing lawyer. In addition, check that the lawyer is on the lender panel. It is estimated that just under twenty per cent of Erith conveyancing deals are delayed or jeopardised after finding out that a buyer’s lawyer was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the home move being held up by as much as 21 days. It is believed that this issue impacts approximately one hundred thousand home sales annually. Most Erith conveyancing firms can not represent certain lenders so do check as early as possible.
It is a dozen years since I bought my property in Erith. Conveyancing solicitors have now been appointed on the sale but I can't find the deeds. Is this a major issue?
You need not be too concerned. Firstly the deeds may be kept by the mortgage company or they could be archived with the solicitor who acted in the purchase. Secondly in most cases the land will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring current official copies of the land registers. Almost all conveyancing in Erith relates to registered property but in the unlikely event that your property is not registered it is more tricky but is not insurmountable.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Solicitor panel ahead of completing my conveyancing in Erith?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Are all Erith Conveyancing Quality Solicitors on the conveyancing list of approved practices?
A selection of banks and building societies now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
Completion of my purchase has taken place for my property in Erith. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
About to purchase flat in Erith. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Erith is on the conveyancing panel.
Having checked my lease I have discovered that there are only Seventy years left on my flat in Erith. I am keen to get lease extension but my landlord is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to find the landlord. For most situations a specialist should be useful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the application to the County Court covering Erith.
I purchased a studio flat in Erith, conveyancing having been completed 3 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Erith with a long lease are worth £165,000. The ground rent is £45 levied per year. The lease expires on 21st October 50
You have 50 years left to run we estimate the premium for your lease extension to range between £36,100 and £41,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.