My wife and I are planning to acquire a 1 bedroom flat in Charlton with a mortgage. We would like to retain our Charlton lawyer, but the mortgage company advise he's not on their "panel". It appears that we have no option but to use one of the bank panel solicitors or retain our Charlton conveyancing practitioner as well as pay for one of their panel lawyers to represent them. We regard this is unjust; can we not require that the mortgage company use our Charlton lawyer ?
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. A further alternative is for your Charlton conveyancing solicitor to apply to be on the conveyancing panel.
It is 10 years ago since I acquired my house in Charlton. Conveyancing lawyers have now been instructed on the sale but I can't track down the title deeds. Is this a major issue?
You need not be too concerned. First there is a possibility that the deeds will be retained by the lender or they may still be with the conveyancers who oversaw the purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining current official copies of the land registers. Almost all conveyancing in Charlton relates to registered property but in the rare situation where your property is unregistered it adds to the complexity but is resolvable.
Have just purchased a repossessed house at auction in Charlton. Conveyancing is required. What are my next steps?
Given that you are now legally bound yourself to purchase you must appoint a conveyancing solicitor quickly as you are faced with a pending deadline in which to complete the conveyancing. Every auction property will have a bespoke legal set of papers. This should include evidence of title and search results. Where you are dealing with leasehold premises the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You should hand this to the solicitor working for you at the earliest opportunity. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.
Last month we had a mortgage agreed in principle with Bank of Ireland. Charlton conveyancing solicitors have been instructed. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
Some lenders take longer than others. Have Bank of Ireland completed the survey? Have you informed Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Nottingham have agreed my home loan in principle, my offer on a apartment in Charlton has been agreed to, now what?
Your property agent will want to be advised as to your property lawyer's details (make sure the lawyers are on the bank’s approved list). Telephone Nottingham or your broker and finish off any appropriate paperwork. Nottingham will appoint a valuer who will get in contact with the selling agent or vendor to book a time for the valuation to take place. Once carried out (assuming no problems) it takes about ten days for the mortgage offer to be issued. Nottingham will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Charlton.
Will my conveyancer be asking questions regarding flooding during the conveyancing in Charlton.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Charlton. There are those who acquire a house in Charlton, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to impart advice on flood risk, however there are a various searches that may be initiated by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in Charlton. The standard completed inquiry forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual question of the seller to determine whether the premises has ever been flooded. In the event that flooding has previously occurred and is not notified by the vendor, then a buyer could commence a legal claim for losses resulting from an incorrect response. A purchaser’s lawyers will also conduct an environmental search. This will reveal whether there is a recorded flood risk. If so, more detailed investigations should be made.
I decided to have a survey carried out on a house in Charlton ahead of retaining lawyers. I have been advised that there is a flying freehold element to the property. The surveyor advised that some banks tend refuse to grant a mortgage on this type of house.
It depends who your proposed lender is. Santander has different instructions from Halifax. If you contact us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Charlton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Charlton to see if the conveyancing costs will increase in light of this.
How can the Landlord & Tenant Act 1954 impact my commercial offices in Charlton and how can you help?
The particular law that you refer to affords security of tenure to business leaseholders, granting the dueness to make a request to court for a new lease and continue in occupation at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Charlton