I am in the process of selling my home in Tooting Bec and the EA has just e-mailed to say that the purchasers are swapping solicitor. The excuse is that the bank will only work with solicitors on their approved list. On what basis would a big named lender only work with specific law firms rather the firm that they want to select for their conveyancing in Tooting Bec ?

Lenders have always had panels of law firms they are content to work with, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.

Banks justify this action to a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.

Is there a reason why leasehold purchase conveyancing in Tooting Bec is more expensive?

Tooting Bec leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

My cousin has recommend that I appoint his conveyancers in Tooting Bec. Should I use them?

There are no two ways about it the best way to select a conveyancing practitioner is to have referrals from friends or family who have used the solicitor that you are considering.

Last May I purchased a leasehold property in Tooting Bec. Do I have any liability for service charges for periods before my ownership?

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. It is an essential part 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).

I have had difficulty in trying to purchase the freehold in Tooting Bec. Can this matter be resolved via the Leasehold Valuation Tribunal?

Absolutely. We are happy to put you in touch with a Tooting Bec conveyancing firm who can help.

An example of a Lease Extension decision 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 affected 1 flat. The unexpired term was 62.94 years.

What tools are available to search for a Tooting Bec conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to 10kilometers to attend the lawyer.

Feel free to make use of the find a conveyancing panel tool on this website. Please choose the lender and your location, in this case Tooting Bec and you will see a number of lawyer located nearest Tooting Bec. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the mortgage company solicitor panel.