We are buying a 1 bedroom apartment in Brixton with a mortgage. We would like to retain our Brixton conveyancer, however the bank says he's not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Brixton solicitor as well as pay for one of their panel firms to represent them. This feels very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Brixton conveyancing solicitor to apply to be on the conveyancing panel.
Will commercial conveyancing searches disclose proposed roadworks that may impact a commercial land in Brixton?
Its becoming the norm that commercial conveyancing solicitors in Brixton will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Brixton. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Brixton.
For each commercial conveyancing transaction in Brixton it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Brixton commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Brixton.
Are there restrictive covenants that are commonly identified as part of conveyancing in Brixton?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Brixton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been advised by a couple of local estate agents in Brixton to find a property lawyer on your site. What’s the financial advantage for Estate Agents to market your lawyers over and above alternative conveyancing organisations?
We refuse to make any referral fee for sending work in our direction. We found it would be just too difficult a fee as home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
Can you provide any top tips for leasehold conveyancing in Brixton with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Brixton can be reduced if you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers’ lawyers. If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share document. Organising a duplicate share certificate is often a time consuming formality and frustrates many a Brixton conveyancing transaction. Where a new share certificate is needed, you should approach the company officers or managing agents (if relevant) for this sooner rather than later. If there is a history of conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than ongoing. You believe that you know the number of years remaining on your lease but you should double-check via your lawyers. A purchaser's lawyer will not be happy to advise their client to where the lease term is under 75 years. In the circumstances it is essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.
Having spent months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Brixton. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Brixton conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Brixton residence is 66 Southwell Road in March 2012. By Order of Deputy District Judge Stone dated 25 January 2012 a vesting order was made. The determination of the purchase price was referred to the Tribunal who decided that the amount payable for the freehold should be£29,612.00 This case related to 3 flats. The unexpired term as at the valuation date was 72.58 years.
I am just shy of a 10% deposit on my flat purchase in Brixton , but I still want to proceed. What can I do?
You can agree a lesser deposit. Many property owners will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second