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Find a Tooting Bec Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Tooting Bec? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Tooting Bec home move at risk of delay or failure.

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Recently asked questions about conveyancing in Tooting Bec

I have been told that property searches are the number one reason for delay in Tooting Bec conveyancing transactions. Is there any truth in this?

The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in Tooting Bec.

4 months have gone by following my purchase conveyancing in Tooting Bec completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I opted to have a survey completed on a house in Tooting Bec in advance of appointing conveyancers. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some banks tend refuse to issue a mortgage on a flying freehold house.

It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Tooting Bec. Conveyancing will be smoother if you use a solicitor in Tooting Bec especially if they are familiar with such properties in Tooting Bec.

We're FTB’s - agreed a price, but the agent told us that the vendor will only issue a contract if we use their preferred solicitors as they want a ‘quick sale’. Our preferred option is to instruct a high street solicitor accustomed to conveyancing in Tooting Bec

It is improbable the vendors are behind this. Should the owner desire ‘a quick sale', taking such a hostile approach to a serious buyer is likely to cause more damage than good. Bypass the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you intend to appoint your own,trusted Tooting Bec conveyancing firm - not the ones that will earn their negotiator at the agency a commission or meet his conveyancing figures demanded by senior management.

I am tempted by the attractive purchase price for a couple of maisonettes in Tooting Bec both have about fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Tooting Bec. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this area.

I have had difficulty in seeking a lease extension in Tooting Bec. Can the Leasehold Valuation Tribunal adjudicate on premiums?

in cases where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to calculate the price.

An example of a Lease Extension matter before the tribunal for a Tooting Bec property is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case was in relation to 1 flat. The unexpired term was 62.94 years.

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Find out more about how flying freehold can affect your the value of a property.