We are buying a 3 bedroom flat in Ladywell with a mortgage. We would like to retain our Ladywell solicitor, but the mortgage company advise she’s not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or keep our Ladywell property lawyer and pay for one of their panel firms to represent them. We feel that this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Ladywell conveyancing lawyer to apply to be on the conveyancing panel.
Can you explain why leasehold purchase conveyancing in Ladywell costs more?
Ladywell leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I am assisting my sister sell her house in Ladywell. Does the conveyancer commission an energy performance certificate or it is for the owner to see to?
Following the abolition of Home Packs, EPC’s remained a compulsory part of moving house. An EPC must be commissioned prior to the property being advertised. This is not something that lawyers normally organise. If you are using a Ladywell conveyancing solicitor they might help arrange energy performance certificates due to their contacts with reputable local providers
We are buying a end of terrace house in Ladywell. We would like to carry out a loft conversion at the property.Will the conveyancing process include investigations to determine if these alterations were previously refused?
Your conveyancer should review the deeds as conveyancing in Ladywell can on occasion identify restrictions in the title documents which prohibit categories of changes or require the consent of another owner. Certain works need local authority planning consent and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
I have paid off my mortgage with Coventry BS. I assume I don't need a Ladywell conveyancer on the Coventry BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
How does conveyancing in Ladywell differ for new build properties?
Most buyers of new build residence in Ladywell come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Ladywell typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Ladywell or who has acted in the same development.
I have been on the look out for a flat up to £235,500 and identified one round the corner in Ladywell I like with open areas and transport links in the vicinity, however it only has 51 years unexpired on the lease. I can't really find anything else in Ladywell for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan that many years will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
I need to appoint a conveyancing solicitor for some conveyancing in Ladywell. I happened to stumble upon a site which seems to have the perfect answer If it is possible to get all the legals done via web that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?