Me and my partner are purchasing a 2 bedroom apartment in Lee with a mortgage. We have a Lee conveyancer, however the bank advise he's not on their "panel". It appears that we have no choice but to appoint one of the lender panel solicitors or continue with our Lee conveyancer and pay for one of their panel firms to represent them. This seems very unfair; can we not insist that the mortgage company use our Lee conveyancer ?
No, not really. The mortgage offered to you 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. Another option that might be available is for your Lee conveyancing solicitor to apply to be on the conveyancing panel.
My son is in the process of securing a newly built flat in Lee with a mortgage from Bank of Ireland. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Bank of Ireland conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
It is is a decade since I purchased my home in Lee. Conveyancing lawyers have just been appointed on the sale but I can't locate my deeds. Is this a problem?
You need not be too concerned. Firstly there is a possibility that the deeds will be with your mortgage company or they may stored with the solicitor who handled your purchase. Secondly in most cases the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. Nearly all conveyancing in Lee involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is resolvable.
How can we tell if a Lee conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Lee getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer conducting your conveyancing.
My husband and I have organised the release of further funds on our home loan from Nottingham as we intend to conduct alterations to our home in Lee. Are we obliged to choose a nearby Lee solicitor on the Nottingham conveyancing panel to handle the paperwork?
Nottingham would not normally appoint firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham list.
I am buying a property in Lee. One unusual aspect is that the roof has a solar panel. Aldermore have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Aldermore your lawyer must comply with the formal requirements contained in Section 2 of UK Finance Lenders’ Handbook for Aldermore. The Council of Mortgage Lenders’ Handbook stipulates minimum conditions for solar panel roof-space leases, and solicitors are required to report to Aldermore where a lease fails to comply with these requirements. The requirements relate to the installation of panels on properties nationwide and is not limited to Lee.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Lee is the location of the property. What do you suggest?
Flying freeholds in Lee are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lee you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lee may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am the proprietor of a second floor flat in Lee. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Lee residence is 18 Handen Road in April 2013. On 26 October 2012 District Judge Zimmels sitting at the Lambeth County Court made a Vesting Order that the Applicants be granted the right to acquire the freehold upon such terms and at such price determined by the LVT. The Tribunal arrived a figure of £39,535 as a valuation for the enfranchisement. This case was in relation to 3 flats. The number of years remaining on the existing lease(s) was 69.05 years.
When it comes to leasehold conveyancing in Lee what are the most frequent lease defects?
Leasehold conveyancing in Lee is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Virgin Money, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.