I am considering applying for a Coventry BS mortgage for purchase of a new build (under development) in Lambeth with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Coventry BS ?
There is nothing to stop you using your solicitor, but Coventry BS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
What does a local search tell me about the property I am purchasing in Lambeth?
Lambeth conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations for example Searchflow The local search plays a central role in many a Lambeth conveyancing purchase; that is if you don’t want any nasty once you have moved into your new home. The search will supply information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
I'm buying my first flat in Lambeth with a mortgage from Coventry Building Society. The builders would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not to tell my lawyer about the deal as it would affect my mortgage with the lender. Should I keep quiet?.
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.
I decided to have a survey done on a property in Lambeth in advance of appointing solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some lenders tend not give a mortgage 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 investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Lambeth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lambeth to see if the conveyancing will be more expensive.
I am looking for a conveyancing lawyer in Lambeth for my home move. Is it possible to check a solicitor's complaints history with the profession’s regulator?
Anyone may find presented Solicitor Regulator Association (SRA) determinations arising from investigations started on or after Jan 2008. Visit Check a solicitor's record. For details Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The regulator may monitor telephone calls for training requirements.
Do you have any top tips for leasehold conveyancing in Lambeth from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Lambeth can be bypassed where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the buyers’ solicitors. If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Lambeth state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord consenting to such works. Should you fail to have the approvals in place do not contact the landlord without contacting your solicitor in advance. If you have had conflict with your landlord or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unresolved. If you hold a share in a the freehold, you should ensure that you hold the original share document. Arranging a duplicate share certificate is often a lengthy formality and delays many a Lambeth home move. Where a duplicate share is necessary, you should approach the company officers or managing agents (where applicable) for this as soon as possible.
I inherited a basement flat in Lambeth. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
Most definitely. We are happy to put you in touch with a Lambeth conveyancing firm who can help.
An example of a Lease Extension decision for a Lambeth premises is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case affected 2 flats. The number of years remaining on the existing lease(s) was 56 years.