I am one month into the sale of my flat in Crystal Palace and the estate agent has just e-mailed to advise that the purchasers are changing their property lawyer. The excuse is that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a big named mortgage company only work with certain lawyers rather the firm that they want to choose for their conveyancing in Crystal Palace ?
Banks have always had an approved set of law firms that can act for them, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. 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 are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.
My wife and I are acquiring a newly constructed apartment in Crystal Palace and my conveyancer is advising me that she is duty bound to the lender to disclose incentives from the seller. I am on a tight deadline to sign contracts and I have no desire to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am selling our home in Crystal Palace and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. Any local conveyancer would know that there is no such problem. It does beg the question why the purchasers instructed an online conveyancing practice as opposed to a conveyancing solicitor in Crystal Palace. We have lived in Crystal Palace for 5 years we know of no issue. Should we contact our local Authority to obtain confirmation that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
Just had an offer accepted on a new build apartment in Crystal Palace. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Crystal Palace
Please confirm the Lease plans are surveyor prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Crystal Palace is the location of the property. Can you offer any advice?
Flying freeholds in Crystal Palace are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Crystal Palace you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Crystal Palace may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Following months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Crystal Palace. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We can put you in touch with a Crystal Palace conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Crystal Palace residence is Flat 5 4 Border Crescent in December 2013. the tribunal calculated that premium payable for the acquisition of a lease extension of the subject premises was in the sum of £14,900 (Fourteen thousand, nine hundred pounds). Those advising the applicant were advised to send a copy of the decision and a copy of the new lease with the premium (less the applicants costs as assessed by the Court) to the Croydon County Court (under claim number 3CR01226) for an officer of the Court to execute the new lease on behalf of the absentee landlord who is missing and cannot be traced). This case related to 1 flat. The remaining number of years on the lease was 69 years.
In relation to leasehold conveyancing in Crystal Palace what are the most common lease problems?
Leasehold conveyancing in Crystal Palace is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:
A duty to insure the building Repairing obligations to or maintain parts of the premises
You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Coventry Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.