I am 4 weeks into the sale of my flat in Catford and the EA has just e-mailed to advise that the buyers are switching law firm. The excuse is that the bank will only work with property lawyers on their approved list. On what basis would a leading lender only work with specific solicitors rather the firm that they want to appoint for their conveyancing in Catford ?
UK lenders have always had panels of law firms that can represent them, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Banks justify this action to a rise in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any impact on this.
The vendors of the house we are looking to purchase have appointed a conveyancing firm in Catford who has insisted on a preliminary contract with a non-refundable deposit 10k. Is it wise to enter into such agreements?
This form of agreement isn't common in Catford, conveyancers are not keen on them as they detract from focusing on the main conveyancing focus and if you end up having your deposit forfeited then the solicitor is left exposed. In addition, there is no assurance that just because the seller has executed a lock out contract they will complete the sale with you. They may be in contravention of the agreement if they are offered a large enough incentive to do so because an aggrieved purchaser with the benefit of a lockoutcontract will still be legally obliged to establish consequential losses from the breach and this may not amount to the financial upside that the owner may gain by breaching the contract, however morally unworthy the behaviour is.
We see that you have a post code search directory listing firms on the Yorkshire BS conveyancing panel. Do firms pay you a referral fee if I instruct them for our conveyancing in Catford?
We are a listing service only for law firms wishing to communicate if they are on the Yorkshire BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Catford.
We have a mortgage agreed in principle with Lloyds. Catford conveyancing solicitors were appointed. What is the average time that one could expect to receive a mortgage offer from Lloyds?
There is no definitive answer here. Have Lloyds done the survey? Have you advised Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Planning on purchasing a house in Catford. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nottingham conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Catford property lawyer is on the Nottingham conveyancing panel.
I've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Catford solicitor - who is on the Skipton conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Skipton will need an independent valuation of the property. Your lawyer will not arrange this. Usually Skipton will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Catford postcode. As you are getting a mortgage with Skipton, you could contact them to see if they have a list of approved surveyors in Catford.
I decided to have a survey carried out on a house in Catford ahead of retaining conveyancers. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some lenders will refuse to issue a mortgage on a flying freehold house.
It varies from the lender to lender. Santander has different requirements from Nationwide. If you call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Catford. Conveyancing may be slightly more expensive based on your lender's requirements.
My wife and I purchased a leasehold flat in Catford. Conveyancing and Godiva Mortgages Ltd mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Catford who acted for me is not around. What should I do?
First contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Catford conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Catford conveyancing firm to help?
Most certainly. We can put you in touch with a Catford conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Catford premises 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 was in relation to 2 flats. The unexpired term was 74.25 years.