Unfortunately I am unable to travel far from Elephant and Castle. Can you please explain the reason why all Elephant and Castle conveyancers are not on all mortgage company panels?
Before the recession most mortgage companies demonstrated an approach to risk which differs from the current day. The FSA in 2010 conducted a thematic review into fraud which concluded: know the lawyers on your panel. As a result, lenders have since soughtmore data from law firms regarding their processes and the individuals who work for them and set certain criteria such as completing a minimum number of transactions. Thousands of law practices have been removed from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the criteria of amount of transactions the lenders insisted on.
My partner and I have organised the release of further monies on our mortgage from Aldermore as we intend to conduct renovations to our house in Elephant and Castle. Are we obliged to select a high street Elephant and Castle solicitor on the Aldermore conveyancing panel to deal with the legals?
Aldermore would not normally require a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore list.
Two weeks ago we had a mortgage agreed in principle with Skipton. Elephant and Castle conveyancing practitioners were instructed. How long does it take for Skipton to send the offer to the solicitor?
Some lenders take longer than others. Have Skipton done the survey? Have you advised Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Clydesdale have agreed my home loan in principle, my offer on a property in Elephant and Castle has been agreed to, now what?
The property agent will want to be advised as to your conveyancing practitioner's details (ensure that the conveyancers are on the lender’s panel). Call up Clydesdale or your financial adviser and finish off any outstanding paperwork. Clydesdale will appoint a valuer who will get in touch with the selling agent or owners to arrange a slot for the valuation to happen. Once conducted (assuming no problems) it takes approximately a fortnight to receive the mortgage offer. Clydesdale will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Elephant and Castle.
I decided to have a survey done on a property in Elephant and Castle prior to instructing lawyers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some mortgage companies will not grant a loan on such a house.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. If you contact us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Elephant and Castle. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Elephant and Castle to see if the conveyancing costs will increase in light of this.
Is it best to choose a Elephant and Castle conveyancing lawyer who is local to the property I am purchasing? I have an old university friend who can conduct the legal work however her office is 300kilometers away.
The primary upside of using a local Elephant and Castle conveyancing firm is that you can drop in to sign paperwork, present your ID and pester them where appropriate. Having local Elephant and Castle know how is a plus. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were happy that should trump using an unfamiliar Elephant and Castle conveyancing lawyer solely due to them being based in the area.
Estate agents have just been given the go-ahead to market my basement flat in Elephant and Castle. Conveyancing has not commenced, however I have recently received a quarterly service charge demand – Do I pay up?
The sensible thing to do is pay the invoice as normal because all rents and service charges should be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Having spent years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Elephant and Castle. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We are happy to put you in touch with a Elephant and Castle conveyancing firm who can help.
An example of a Lease Extension decision for a Elephant and Castle flat is Ground Floor Flat 39 Bronsart Road in May 2010. Following a vesting order by West London County Court the Leasehold Valuation Tribunal concluded that the price to be paid for the extended lease of the premises was Thirteen Thousand Two hundred pounds (£13,200) in accordance with the valuation. The extended lease was granted for a term of 90 years from the expiry date of the Lease and at a peppercorn ground rent from the date of the vesting order. This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 74.77 years.
My brother is purchasing a basement flat in Elephant and Castle. He has received an estimate by the property lawyer connected to the estate agents totaling £1156 . It was seven years ago I sold and purchased a house and it cost was £440. Have costs really gone up that much?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for example Elephant and Castle searches, land registry fees, etc)