We are buying a 1 bedroom flat in Balham with a mortgage. We have a Balham conveyancer, however the bank advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Balham conveyancing practitioner and pay for one of their panel ones to represent them. We regard this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Balham conveyancing solicitor to apply to be on the conveyancing panel.
Please help. My Balham conveyancer is assuring me that he has toapply for Balham conveyancing searches asthe firm are on the Lloydssolicitor panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Balham conveyancing searches.
I have recentlydiscovered that Stirling Law have closed. They carried out my conveyancing in Balham for a purchase of a leasehold flat 10 months ago. How can I establish that the property is registered correctly in the name of the previous owner?
The easiest method to see if the property is in your name, 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 Balham conveyancing specialists.
About to purchase a new build apartment in Balham. Conveyancing is necessary evil 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 conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Balham
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I opted to have a survey done on a property in Balham prior to appointing lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some mortgage companies will refuse to issue a loan on such a home.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. If you contact us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Balham. Conveyancing may be slightly more expensive based on your lender's requirements.
I am purchasing a garden maisonette in Balham. Conveyancing solicitor has been waiting for, from the seller, building insurance schedule. I was told today I was informed that the seller needs to send the insurance schedule for the flat above in addition. Why does my lawyer want to check the insurance for the other flat? Is it really necessary? We have been waiting for the previous fortnight…
It is not unheard of in leasehold conveyancing in Balham to discover Conveyancing in Balham in a minority of cases reveals that the lease provides for the leasehold owners to insure their individual flats as opposed to the freeholder insuring the whole property - which is definitely preferable. Do contact your conveyancing practitioner but it would appear that your conveyancing practitioner is attempting to verify that the whole building is insured. Insuring a ground floor apartment is no help when it comes to rebuilding after a fire if the other flat cannot be reinstated due to lack of insurance.