The conveyancer who dealt with my former purchase has given a fee estimate just over a thousand pound for leasehold conveyancing in Mottingham. I am selling a purpose built detached home for £125,000. This sounds too much. Is it above the average fee for conveyancing in Mottingham?
The charges are a tad high. If you shop around you might shave off some of the cost by say £125. That being said, you maylive to rue choosing an an untested conveyancer. Remember to be sure the solicitor can act for your lender. You can use our comparison tool to get a quote a Mottingham conveyancing practice on the banks conveyancing panel which can often include conveyancing solicitors in Mottingham.
Our conveyancer has discovered a defect with the lease for the flat we are buying in Mottingham. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our property lawyer says that he must check that the lender is content with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I'm the only beneficiary of my late father’s will and I have everything in my name alone, including the my former home in Mottingham. The Mottingham property was put into my name in May. I plan to dispose of the property. I do know about the CML 6 month 'rule', meaning my property ownership may be regarded the same way as if I'd bought the house in May. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. Some mortgage companies would take a practical view as this obligation is chiefly there to capture subsales or the quick reselling of properties.
Are all Mottingham Conveyancing Quality Solicitors on the Santander conveyancing list of approved firms?
Some major lenders now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
My partner and I have organised the release of further monies on our home loan from Principality as we wish to conduct a loft conversion to our property in Mottingham. Are we obliged to appoint a nearby Mottingham solicitor on the Principality conveyancing panel to deal with the paperwork?
Principality do not ordinarily appoint firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality conveyancing panel.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Mottingham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Mottingham
Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are architect prepared.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a simple, chain free conveyancing. Mottingham is the location of the property. Can you shed any light on this issue?
Flying freeholds in Mottingham are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Mottingham you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mottingham may decide 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 residence.
My cousin is purchasing a leasehold flat in Mottingham. He was given a quote by the lawyer connected to the estate agents totaling £1300 . It was 9 years ago I sold and bought a house and the bill was £600. Have charges really gone up that much?
We would recommend that you e-mail two or three local Mottingham conveyancing solicitors requesting estimates. You should base your choice not solely on cost, but on promptness and on how comprehensive the reply is.