As a first time buyer what is the most important number one tip you can impart concerning purchase conveyancing in Thornton Heath?

You may not hear this from too many lawyers but conveyancing in Thornton Heath or throughout Surrey is often a confrontational experience. In other words, when it comes to conveyancing there exists plenty of room for friction between you and others involved in the transaction. E.g., the seller, selling agent and on occasion a bank. Selecting a law firm for your conveyancing in Thornton Heath is a critical decision as your conveyancer is your adviser, and is the ONLY party in the legal process whose responsibility is to act in your best interests and to protect you.

Sometimes a third party with a vested interest may try and convince you that it is in your interests to do things their way. For instance, the selling agent may claim to be assisting by claiming that your conveyancer is wrong. Or your mortgage broker may advise you to do something that is against your solicitors guidance. You should always trust your lawyer above all other parties in the home moving process.

My flat in Thornton Heath is up for sale and I have a purchaser. Does my conveyancer need to be on the Co-operative conveyancing panel in order to deal with redeeming my mortgage?

Ordinarily, even if your lawyer is not on the Co-operative conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.

Just had an offer accepted on a new build flat in Thornton Heath. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.

Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Thornton Heath

Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?

I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Thornton Heath conveyancing firm to represent me?

Absolutely. We can put you in touch with a Thornton Heath conveyancing firm who can help.

An example of a Lease Extension decision for a Thornton Heath property is Ground Floor Flat 14 Lodge Road in October 2013. the tribunal held that the price payable for the acquisition of the extended lease of the property should be £12,590 .00 This case affected 1 flat. The unexpired residue of the current lease was 69.46 years.

In relation to leasehold conveyancing in Thornton Heath what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Thornton Heath. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

A provision for the recovery of money spent for the benefit of another party.

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Royal Bank of Scotland, and Barclays Direct all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.

My partner and I soon to complete on the purchase a property in Thornton Heath but as a result of wreckage from the recent storms I have agreed recompense from the current proprietors of £3k in the form of a deduction in the price. I had intended this to be addressed as part of the conveyancing process yet my mortgage company will not permit this. Should they have been approached?

Your conveyancing practitioner listed on the bank conveyancing panel is obliged to inform the bank of any changes to the sale amount. In the event that you were to refuse your property lawyer to report the price change to your bank then they would have to refrain from representing you and the lender.