I am in the market for a low cost conveyancer. Should I go for for an internet conveyancer rather than a family Norbury conveyancing solicitor?
Generally conveyancing solicitors in your area will benefit from excellent alliances with your local authority, which can help with the Norbury conveyancing searches that your solicitor will require on your transaction. It can only be a plus if they enjoy strong connections with the Land Registry in your area Norbury, other conveyancers in the location and Norbury property agents.
In what way does my ID and proof of funds have anything to do with my conveyancing in Norbury? What am I being asked for?
Norbury conveyancing solicitors and indeed property lawyers accross the UK have a duty under money laundering regulations to check the ID of any client in order to ensure that clients are who they say they are.
Conveyancing clients will need to produce two forms of certified identification; proof of identity (typically a Passport or Driving Licence) and proof of address (typically a Utility Bill less than 3 months old).
Proof of source of funds is also required under the money laundering laws as lawyers are required to check that the money you are utilising to acquire a property (be it the exchange deposit or the full purchase amount where you are buying without a mortgage) has originated from a reputable source (such as an inheritance) as opposed to the fruits of illegitimate behaviour.
About to purchase a new build flat in Norbury. Conveyancing is necessary evil 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.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Norbury
-
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
I opted to have a survey done on a house in Norbury ahead of retaining solicitors. I have been told that there is a flying freehold element to the property. My surveyor advised that some lenders may refuse to give a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. If you e-mail us we can investigate further via 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 familiar with such properties in Norbury.
Am I right to be concerned about 3rd parties that I am dealing with are recommending a nationwide conveyancing firm rather than a High Street Norbury conveyancing firm?
As is the case with many service providers, often referrals from connections can be worth their weight in gold. Nevertheless there are numerous people with a vested interest in a conveyancing deal; estate agents, financial adviser and mortgage companies might all put forward conveyancers to select. On occasion the solicitors might be known to one of the organisations as experts in their field, but sometimes there might be a commercial relationship behind the endorsement. You are free to choose your own conveyancer. However, bear in mind that many lenders specify a panel list of conveyancers you are obliged to use for the lender aspect of your house move.
Following months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Norbury. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to make a decision on the price.
An example of a Lease Extension decision for a Norbury premises 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 number of years remaining on the existing lease(s) was 23.25 years.
What makes a Norbury lease unmortgageable?
Leasehold conveyancing in Norbury is not unique. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
-
Clauses dealing with recovering service charges for expenditure on the building or common parts.
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Bank of Scotland, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to pull out.