My wife and I are purchasing a 1 bedroom apartment in Nunhead with a mortgage. We have a Nunhead lawyer, however the mortgage company advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Nunhead solicitor and pay for one of their panel firms to act for them. We consider that this is inequitable; can we not insist that the mortgage company use our Nunhead property lawyer ?
Unfortunately,no. Your mortgage offer 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. A further alternative is for your Nunhead conveyancing lawyer to apply to be on the conveyancing panel.
The mortgage over my property is with Nottingham for my property in Nunhead. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Nottingham?
You must advise Nottingham in advance of renting your property as this is likely to be a breach of Nottingham’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 Nottingham directly. It should not be necessary to do this via a Nottingham conveyancing panel solicitor.
I am selling my flat. I had a double glazing fitted in January 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Co-operative are being difficult. The Nunhead solicitor who is on the Co-operative conveyancing panel is saying indemnity insurance will be fine but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My offer was accepted on an apartment in Nunhead on 4/10/2022, valuation was booked 4 days later, all came back fine. Conveyancer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Nottingham and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Nottingham conveyancing panel. Are Nottingham entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
Should our conveyancer be raising enquiries about flooding during the conveyancing in Nunhead.
The risk of flooding is if increasing concern for solicitors dealing with homes in Nunhead. There are those who purchase a property in Nunhead, completely aware that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, however there are a numerous checks that can be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Nunhead. The standard information given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a usual question of the owner to discover whether the premises has suffered from flooding. If the residence has been flooded in past and is not revealed by the owner, then a buyer may commence a compensation claim stemming from an inaccurate answer. The purchaser’s lawyers may also commission an enviro report. This will indicate whether there is any known flood risk. If so, additional inquiries should be made.
Due to the input of my in-laws I had a survey completed on a property in Nunhead prior to appointing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some banks will refuse to give a loan on such a house.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you e-mail us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Nunhead. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Nunhead to see if the conveyancing will be more expensive.
How can the Landlord & Tenant Act 1954 impact my commercial offices in Nunhead and how can your lawyers assist?
The particular law that you refer to provides a safeguard to commercial leaseholders, granting the dueness to apply to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act for protection and handle your commercial conveyancing in Nunhead
I need to appoint a conveyancing solicitor for leasehold conveyancing in Nunhead. I've discover a site which looks to be the perfect offering If it is possible to get all this stuff done via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?