Am I correct in assuming that the fact that my conveyancer in Harold Park is not identified on my lender's solicitor panel that there is a problem with the quality of his work?
That is more than likely an incorrect assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Harold Park conveyancing practice and enquire why they are no longer on the approved list for your lender.
It is a dozen years since I acquired my property in Harold Park. Conveyancing lawyers have just been instructed on the sale but I am unable to locate my deeds. Is this a problem?
You need not be too concerned. Firstly the deeds may be retained by your lender or they could be archived with the conveyancers who handled your purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors obtaining current official copies of the land registers. Most conveyancing in Harold Park relates to registered property but in the unlikely event that your home is not registered it adds to the complexity but is resolvable.
I used Wolstenholmes several years past for my conveyancing in Harold Park. Now, I need the documents but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate 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 Harold Park of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Harold Park differ for new build properties?
Most buyers of new build property in Harold Park contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because builders in Harold Park tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Harold Park or who has acted in the same development.
We own a leasehold flat in Harold Park. Conveyancing was finished in last year. I have read on numerous advice forums that I mustn’t let the lease length get too low. Is this right?
Harold Park domestic long term leases are for a fixed term - normally ninety nine years when they are first granted. However many appartments in Harold Park were constructed or converted in the 60’s and so these leases now have under 80 years left to run. That may seem like a long time but Banks, Building Societies and other mortgage institutions tend to need leases to have at least 75 years left to adequate security. Accordingly when you come to sell the property you will need a lease extension if you are nearing eighty years. To maximise your property value you should be thinking about whether to extend your lease long before you come to sell it. There are also significant benefits to taking action before the lease hits eighty years as when the lease is less than eighty years the premium to be paid to extend starts to increase.