We are acquiring a brand new flat in Catford and my solicitor is telling me that she is duty bound to the mortgage company to reveal incentives from the builder. I am under pressure to sign contracts and I have no desire to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I had intended to instruct a conveyancing solicitor in Catford for our house purchase. Our broker has since notified us that our mortgage lenders The Royal Bank of Scotland won't deal with them. Why is this not regarded as unfair competition?
Mortgage Companies on the whole imposes restrictions either the category or the number of conveyancing solicitors on their panel. Typical examples of such criteria being that a firm must not be a sole practitioner. In addition to restricting the profile of firm, a few lenders have reduced the amount of solicitor practices they allow to act for them. Be aware that The Royal Bank of Scotland have no responsibility for the quality of advice provided by any member of The Royal Bank of Scotland Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels since 2008 even though there remains mixed opinions concerning the level of solicitor involvement in some of that fraud. Data from the Land Registry indicate that thousands of law firms, including some in or near Catford only execute very few conveyances per annum.
I have justbeen informed that Action Conveyancing have been shut down. They conducted my conveyancing in Catford for a purchase of a leasehold apartment 12 months ago. How can I check that the property is in my name in the name of the former proprietor?
The quickest method to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Catford conveyancing specialists.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one round the corner in Catford I like with amenity areas and railway links in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Catford for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
My company is planning to lease a unit on a shopping parade. Can you recommend conveyancers offering competitive costs for non-domestic conveyancing in Catford for below £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Catford, including the disposal and purchase of businesses as well as simply premises. Whether you are intending to purchase or lease a shop, pub, restaurant, office, retail unit or a whole business we will find you the right solicitor. Regarding the costs these will vary based on the structure and terms of the deal. Let us have your contact information or call so as to enable us to supply you with comprehensive commercial conveyancing calculation.
Back In 2009, I bought a leasehold flat in Catford. Conveyancing and Aldermore mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Catford who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Catford conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am the registered owner of a first floor flat in Catford. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Absolutely. We can put you in touch with a Catford conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Catford residence is 44 Elmer Road in January 2013. The Tribunal dacied that amount to be paid by the Leaseholders for the Landlords freehold reversion was £12,951 as at the valuation date (20" September 2012).This matter was referred back to the Bromley County Court to deal with costs, fees and any other outstanding matters. This case related to 2 flats. The unexpired lease term was 74.25 years.