Am I correct in assuming that the fact that my solicitor in Forest Hill is not on my mortgage company's solicitor panel that there is a problem with the quality of his work?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Forest Hill conveyancing firm and enquire why they are no longer on the approved list for your bank.
We are approaching an exchange on a flat in Forest Hill and my parents have transferred the ten percent deposit to my lawyer. I am now informed that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my mortgage company. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your lawyer is legally required to clarify with mortgage company to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Me and my partner are buying a house in Forest Hill. It might be a silly question but how we can trust a solicitor? On completion day we have to send funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We are buying a victorian detached house in Forest Hill. We would like to carry out an extension to the side at the property.Will legal investigations on the property include investigations to see if these works are permitted?
Your conveyancer will review the registered title as conveyancing in Forest Hill will occasionally reveal restrictions in the title documents which prevent categories of works or require the consent of another owner. Many works require local authority planning consent and approval in compliance with building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
Can you help - my lawyer says that lack of building regulations insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Forest Hill?
The right level of lack of building regulations indemnity insurance should be dictated by who your lender. It would differ for example between HSBC Bank and Virgin Money. Conveyancing practitioners as opposed to members of the public take out such policies.
I am purchasing my first flat in Forest Hill with a mortgage from TSB. The developers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The property agent told me not to tell my lawyer about this side-deal as it could impact my mortgage with TSB. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Are there any apps to assist me to identify a Forest Hill law firm on the Nationwide Building Society conveyancing panel? I have a car and am prepared to travel upto 25miles to meet the conveyancer.
You can use the facility on this page. Please pick a mortgage company and your location and you will see a number of Forest Hill conveyancing lawyers locally. We have listed some Forest Hill conveyancing firms towards the end of this page and you can contact them to check whether they are on the Nationwide Building Society panel
Planning to complete next month on a garden flat in Forest Hill. Conveyancing solicitors assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Forest Hill should include some of the following:
Are pets allowed in the flat? Your solicitors should enable you to have an understanding of the insurance obligations You need to be informed what constitutes a Nuisance in the lease Whether your lease has a provision for a slush account for major works?
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Forest Hill conveyancing firm to assist?
Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the price payable.
An example of a Lease Extension matter before the tribunal for a Forest Hill residence is Flat 1 40-42 Ewelme Road in August 2012. the Tribunal assessed the premium for the lease extension in the sum of £11,800 This case affected 1 flat. The number of years remaining on the existing lease(s) was 61.81 years.