When it comes to mortgage companies such as Kent Reliance, do Catford conveyancing practitioners incur a fee to be on the conveyancing panel?
We are unaware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I have today made my last payment due on my mortgage with Virgin Money. I assume I don't need a Catford solicitor on the Virgin Money panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money 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 Virgin Money mortgage from the register. Virgin Money, 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:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Catford off the council. I have a mortgage agreed with Nottingham. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
I am buying my first flat in Catford with the aid of help to buy. The builders would not reduce the price so I negotiated £7000 of extras instead. The sale representative advised me not to tell my solicitor about this deal as it would put at risk my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one close by in Catford I like with open areas and railway links in the vicinity, the downside is that it only has 61 years on the lease. I can't really find anything else in Catford suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
My husband and I are a fortnight into a leasehold purchase having been referred to conveyancers by the estate agent to handle our conveyancing in Catford. I am am very frustrated with the level of service. Can you help me find new conveyancers?
They would have to be very poor in order to consider replacing them. Has your loan offer been sent? In the event that it has you will need to make them aware of the replacement conveyancer and get the offer are re-issued. Your conveyancer needs to be on the mortgage company panel to avoid added charges and frustration. That should be your starting point. The search tool will assist you in finding a bank approved lawyer for your home move in Catford
I am on look out for some leasehold conveyancing in Catford. Before diving in I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Catford - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Catford conveyancing firm to help?
in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to arrive at the price payable.
An example of a Freehold Enfranchisement case for a Catford flat 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 affected 2 flats. The unexpired lease term was 74.25 years.
Is it necessary during the course of the conveyancing process to visit the offices of the bank conveyancing panel solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Catford so that I can pop in to their offices when needed.
Whereas this was necessary 12 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Catford.