Our conveyancer has identified a defect with the lease for the flat we are buying in Catford. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that he must ensure that the bank is willing to move forward with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.
We're in Catford, First time buyers purchasing with a mortgage (lender is Principality , and our solicitor is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My wife and I purchasing a end of terrace house in Catford. Our aim is to carry out a loft conversion at the house.Will legal investigations on the property involve enquiries to see if these works are prohibited?
Your property lawyer should review the registered title as conveyancing in Catford will occasionally identify restrictions in the title deeds which restrict categories of changes or necessitated the consent of another owner. Certain extensions call for local authority planning consent and approval under the building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be prudent to check these issues with a surveyor before you commit yourself to a purchase.
Can you point me to a directory of Coventry BS panel conveyancers in Catford on the UK Finance Lenders’ Handbook Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. Very few banks make their panel listings visible online. Where you are in need of a Catford solicitor on the Coventry BS please use our tool.
I have decided to exercise my right to buy my property in Catford off the council. I have a mortgage offer with HSBC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
Just bought a detached house in Catford , how long should it take for the Land Registry to register my ownership? My Catford conveyancing solicitor works at snail pace, so I want to be certain that my ownership is recorded.
As far as conveyancing in Catford registration is no faster or slower than the rest of England and Wales. Rather than based on location, timeframes can differ depending on the party submitting the application, whether there are errors and if the Land registry must send notices to any 3rd persons or bodies. As of today approximately three quarters of submission are fully addressed in less than three weeks but some can be subject to protracted delays. Historically registration takes place after the purchaser is living at the property therefore post completion formalities is not typically an essential issue yet where it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for an expedited registration.
I am looking for a flat up to £245,000 and identified one close by in Catford I like with a park and transport links nearby, however it only has 51 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 purchasing a lease with such few years left?
Should you need a mortgage the shortness of the lease will likely be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner 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. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
My company is hoping to take an assignment of a lease of an office on the high street. Can you recommend lawyers offering no-move-no charges for commercial conveyancing in Catford for less than £2000?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Catford, including the sale and acquisition of businesses as well as simply premises. Whether you are hoping to purchase or sell a shop, pub, restaurant, office, retail premises or a complete business we can find you the right lawyer. As for the costs this will depend on the structure and heads of terms of the proposed transaction. Let us have your details or call so as to enable us to furnish you with a fixed commercial conveyancing quote.