Is the fact that my conveyancer in Norbury is not on my mortgage company's solicitor panel that there is a problem with the standard of his work?
That is most likely an incorrect assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Norbury conveyancing firm and enquire why they are no longer on the approved list for your bank.
I am looking to buy a flat and require a conveyancing solicitor in Norbury who is on the The Mortgage Works conveyancing. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for The Mortgage Works in certain locations such as Norbury. We dont recommend any particular firm.
Completion of my purchase has taken place for my property in Norbury. Conveyancing was a necessary evil but I would like to complain about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
It is unclear whether my lender requires a lease extension. I have called my Norbury bank branch on various occasions and was told it does not impact the mortgage offer and they will lend. My Norbury conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The property lawyer must follow the Council of Mortgage Lenders’ Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 left on the lease.
Bank of Ireland have agreed my home loan in principle, my bid on a apartment in Norbury has been accepted, what are the next steps?
Your property agent will want to be advised as to your solicitor's details (ensure that the property lawyers are on the bank’s panel). Telephone Bank of Ireland or the broker and complete any outstanding paperwork. Bank of Ireland will sellect a valuer who will get in touch with the estate agent or owners to arrange an appointment. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Bank of Ireland will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Norbury.
I opted to have a survey done on a property in Norbury before appointing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some banks will refuse to issue a loan on this type of property.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. If you contact us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Norbury. Conveyancing will be smoother if you use a solicitor in Norbury especially if they are acquainted with such properties in Norbury.
My husband and I are first time buyers - had an offer accepted, but the selling agent informed us that the owners will only issue a contract if we use the agent's chosen conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a high street solicitor used to conveyancing in Norbury
We suspect that the seller is not behind this demand. If they desire ‘a quick sale', taking such a hostile approach to a serious buyer is going to damage their objectives. Speak to the owners direct and make the point that (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you are going to appoint your own,trusted Norbury conveyancing solicitors - not the ones that will provide their estate agent a referral fee or meet his conveyancing thresholds pre-set by corporate headquarters.
I only have 72 years left on my lease in Norbury. I am keen to extend my lease but my freeholder is missing. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you have made all reasonable attempts to find the freeholder. On the whole an enquiry agent should be useful to carry out a search and prepare a report which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the vesting order request to the County Court covering Norbury.
I am the registered owner of a ground floor flat in Norbury. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Most certainly. We can put you in touch with a Norbury conveyancing firm who can help.
An example of a Lease Extension decision for a Norbury flat is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case related to 1 flat. The unexpired term as at the valuation date was 23.25 years.