We are planning to acquire a property and need a conveyancing solicitor in Southwater who is on the Virgin Money conveyancing panel. Can you recommend a local solicitor?

Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Virgin Money . We don't recommend any particular firms conducting conveyancing in Southwater.

Please explain the implications if my lawyer’s firm is suspended from the Virgin Money Conveyancing panel ahead of completing my conveyancing in Southwater?

The first thing to point out is that, this is a very rare occurrence. 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.

Have just purchased a repossessed house at auction in Southwater. Conveyancing is required. What are my next steps?

Given that you are now exchanged you will need to retain a conveyancing lawyer soon as you now have a tight a fixed date to complete the purchase. All auction property will have a corresponding legal set of papers. This will include most,if not all of the documents that your conveyancer requires. If you have purchased leasehold premises the legal pack should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to leasehold premises. You must give this to the solicitor instructed by you at the earliest opportunity. You also need to ensure that you have funds in place to complete the transaction on the set completion date.

I have paid off my mortgage with UBS. I assume I don't need a Southwater conveyancing practitioner on the UBS panel to discharge the mortgage at the Land Registry. Please confirm.

If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where UBS has sent the Land Registry the discharge electronically, and
3. UBS has instructed the Land Registry to do so

I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Southwater bank branch on a couple of occasions and was told it does not impact the mortgage offer and they will lend. My Southwater conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.

The lawyer must comply with the Council of Mortgage Lenders’ Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.

I am buying a new build house in Southwater with the aid of help to buy. The builders would not move on the price so I negotiated £7000 of additionals instead. The house builders rep told me not inform my conveyancer about the side-deal as it may impact my mortgage with the bank. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Last September I purchased a leasehold flat in Southwater. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Leasehold Conveyancing in Southwater - Examples of Queries before Purchasing

Please note that where the lease has no more than eighty years it will have adverse implications on the value of the apartment. It is worth checking with your mortgage company that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will most likely require a lease extension at some point and it is worth finding out what this will be. Remember, in most cases you will be required to have owned the premises for a couple of years before you are eligible to exercise a lease extension. It is important to be aware whether fixing the lift or some other significant cost is due in the foreseeable future that will be shared between the tenants and will materially impact the level of the maintenance costs or necessitate a specific invoice. The answer will be important as a) areas could result in problems for the block as the common areas may begin to deteriorate if maintenance are not paid for b) if the tenants have a dispute with the managing agents you will want to have all the details