My mortgage broker requires my Lee law firm’s panel reference for the HSBC conveyancing panel. Can you suggest how I find this out. I have called my local Lee branch but they have not got back to me yet.
You are best placed to get this information from your Lee property lawyer . Most Lee conveyancing firms will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
Can you help - my lawyer says that missing deeds insurance is necessary on my purchase. What is the level of cover for Lee conveyancing?
The appropriate level of missing deeds indemnity insurance depends on your lender. It would differ for example between Halifax and Chelsea Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
I have a mortgage with Aldermore for my property in Lee. Conveyancing has been completed some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aldermore?
Your original mortgage agreement with Aldermore will provide that you need their approval before letting out your property as this is likely to be a breach of Aldermore’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. It should not be necessary to do this via a Aldermore conveyancing panel firm.
I can not work out if my lender requires a lease extension. I have called into my local Lee building society branch on numerous occasions and was advised it wasn't a problem and they will lend. My Lee conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend based on their specific requirements. Who do I believe?
Provided that the property lawyer is on the bank panel, she or he must follow the Council of Mortgage Lenders’ Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I completed on my apartment on 3 January and my personal details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in Lee advises it would be recorded in less than a month. Are titles in Lee uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Lee registration formalities. Rather than based on location, timeframes can differ depending on who lodges the application, whether there are errors and if the Land registry communicate with any interested parties. As of today approximately 80% of submission are completed in less than three weeks but some can be subject to protracted hold-ups. Historically registration occurs after the purchaser is living at the premises so an expedited registration is not typically top priority but if it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Lee differ for new build properties?
Most buyers of new build property in Lee contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is completed. This is because house builders in Lee tend to acquire the site, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Lee or who has acted in the same development.
Are there any apps to help identify a Lee law firm on the Accord Mortgages Ltd conveyancing panel? I have a car and am prepared to travel upto 20miles to meet the solicitor.
You can use the search on this page. Please select a bank and your location and you will see a number of Lee conveyancing lawyers locally. We have detailed some Lee conveyancing firms towards the end of this page and you can contact them to see if they are on the Accord Mortgages Ltd panel
Can you provide any top tips for leasehold conveyancing in Lee from the point of view of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Lee can be avoided where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives. Many freeholders or Management Companies in Lee charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Lee. If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Lee state that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such works. Should you dont have the paperwork in place you should not contact the landlord without contacting your lawyer in the first instance. If there is a history of conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over as opposed to ongoing.
I am the registered owner of a basement flat in Lee. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
Absolutely. We can put you in touch with a Lee conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Lee property 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 related to 3 flats. The number of years remaining on the existing lease(s) was 69.05 years.