My fiance and I are intent on purchasing a leasehold flat in Catford. My lawyer is not on the lender conveyancing panel. Is it possible for me to retain my Catford conveyancing solicitor even though they are not on the mortgage company panel?
One will need to have a property lawyer to complete the formalities if you require a loan to buy your home. The solicitor will carry out all the relevant due diligence on the property, make sure that you will be properly registered as the owner and ensure that all the required mortgage paperwork is in order. One could select a Catford solicitor of your choice. Nevertheless, if the lawyer appointed is not on the lender solicitor panel supplemental costs will be incurred as separate legal representation will be need by the mortgage company. Lender panel applications may be submitted, so if your conveyancer has not historically applied for membership they should take the opportunity to apply.
I require expedited conveyancing in Catford as I have pressure to complete in less than 2 weeks. Luckily I do not need a mortgage. Can I avoid the conveyancing searches to save money and time?
If.Given you are are a mortgage free buyer you have the choice not to do searches although no law firm would recommend that you don't. Drawing on years of experience of conveyancing in Catford the following are instances of what can arise and adversely impact the marketability of the property: Refused Planning Applications, Overdue Charges, Overdue Grants, Road Schemes,...
How does conveyancing in Catford differ for new build properties?
Most buyers of new build residence in Catford contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Catford typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Catford or who has acted in the same development.
Am I best advised to use a Catford conveyancing solicitor based in the location that I am buying? We have a good friend who can deal with the legal work but his firm is located over three hundred miles drive away.
The benefit of a local Catford conveyancing firm is that you can drop in to sign documents, hand in your ID and pester them if necessary. Having local Catford know how is a plus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and the majority were content that should trump using an unfamiliar Catford conveyancing solicitor just because they are based in the area.
My partner and I may need to sub-let our Catford ground floor flat for a while due to a new job. We used a Catford conveyancing practice in 2004 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?
Your lease dictates the relationship between the landlord and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Catford do not prevent subletting altogether – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Catford conveyancing firm to help?
Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to arrive at the sum to be paid.
An example of a Freehold Enfranchisement decision for a Catford property 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.
My husband and I are buying a 2 bedroom flat in Catford. At the time of instructing our conveyancer, they assured us that they were on all mainstream mortgage company panels. The financial adviser called yesterday to advise that they are not on the Kent Reliance approved list. Were it to be true, what should we do? Do we simply find a new conveyancer that is on their approved list or do we pay for dual representation, with Kent Reliance selecting their own preferred conveyancer.
Where you are buying a property requiring a mortgage it is conventional for the purchaser’s solicitors to also represent the purchaser's lender. In order to act for a bank or building society a solicitor has to be on that lender's list of approved lawyers. An application has to be made by the property lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the lawyer has to meet. Some lenders now insist their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact Kent Reliance to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on Kent Reliance's conveyancing panel as you are at liberty to use your preferred Catford lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.