My husband and I are planning to acquire a house in Dulwich and are in fact using a Dulwich conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Lloyds TSB Bank have this morning contacted us to advise us that there is now an issue as our Dulwich solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Dulwich solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
The sellers of the home we are looking to purchase hired a conveyancing practitioner in Dulwich who has recommended a exclusivity agreement with a payment two thousand pounds. Are such agreements sensible?
There are a couple of main concerns with entering into any lock out contract (also referred to as a no-shop agreement) is that it takes away the focus from moving forward with the conveyancing transaction itself, so unless it requires minimal or no negotiation then it may transpire to be a hindrance. It is not promoted amongst Dulwich conveyancing solicitors as a result. A further negative is the extent of the remedies available - a jilted buyer is not likely to be issued with an injunction to bar the vendor selling to an alternative purchaser, so the only remedy open via the contract will be the reimbursement of abortive charges and, in restricted situations, the extra payment of damages.
We see that you have a post code search directory listing law firms on the TSB conveyancing panel. Do companies pay you a commission if I retain them for our own conveyancing in Dulwich?
We are a listing service only for law firms wishing to communicate if they are on the TSB conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Dulwich.
I decided to have a survey done on a house in Dulwich before instructing solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some lenders will not grant a loan on such a property.
It depends who your proposed lender is. Santander has different instructions from Birmingham Midshires. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Dulwich. Conveyancing will be smoother if you use a solicitor in Dulwich especially if they are accustomed to such properties in Dulwich.
I want to sublet my leasehold flat in Dulwich. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your last Dulwich conveyancing lawyer is no longer available you can review your lease to check if you are permitted to let out the property. The rule is that if the lease is silent, subletting is allowed. There may be a precondition that you need to obtain permission from your landlord or some other party prior to subletting. This means that you cannot sublet in the absence of first obtaining permission. Such consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I am the proprietor of a two-bedroom flat in Dulwich. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
in cases where there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to calculate the premium.
An example of a Lease Extension case for a Dulwich property is 60 Taymount Grange Taymount Rise in June 2012. The Tribunal determined the premium at £13,346 for a lease extension of a further 90 years This case affected 1 flat. The unexpired residue of the current lease was 64 years.
Do online conveyancing companies do everything a high street Dulwich solicitor does or do I still need to use a solicitor for the final stages for my conveyancing in Dulwich?
Where you instruct an online conveyancer they should cover all the work your Dulwich solicitor will cover.