My fiance and I are hoping to purchase a property in Nunhead and have appointed a Nunhead conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Norwich and Peterborough Building Society have this evening contacted us to advise us that there is now an issue as our Nunhead conveyancer is not on their approved list of lawyers. Is this a problem?
If you are buying a property needing a mortgage it is usual for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Nunhead solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Can your site be used to recommend a Conveyancing solicitor in Nunhead even where I’m not buying or disposing of a house, for instance where I wish to acquire a shop in Nunhead with a mortgage from Coventry Building Society?
Our search tool is primarily there to get a quote from domestic conveyancing solicitors in Nunhead but we have listed towards the end of this page some Nunhead commercial conveyancing firms. You will need to speak with the company directly to check if they can also act for Coventry Building Society
What does a local search tell me regarding the house we're purchasing in Nunhead?
Nunhead conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for example Searchflow The local search plays an important role in most Nunhead conveyancing purchase; that is if you don’t want any nasty surprises after you move into your new home. The search will provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The solicitors who handled the conveyancing in Nunhead 10 years ago are no longer around. Will I be able to sell the house?
In today’s world there are copies made of almost everything, and your conveyancer will know precisely where to look for all the appropriate paperwork so you may purchase or sell your property without any difficulty. Where duplicates are not available, your conveyancer may be able to put in place insurance or indemnities protecting you against possible claims on the premises.
I am looking for a flat up to £235,500 and found one close by in Nunhead I like with open areas and transport links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Nunhead in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
I've recently bought a leasehold property in Nunhead. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a second floor flat in Nunhead. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?
Most definitely. We are happy to put you in touch with a Nunhead conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Nunhead property is 41 Endwell Road in March 2013. this matter relateed to the acquisition of the freehold of a mid- terraced Victorian house converted into three separate self-contained dwellings. By an order dated 28/11/2012, Deputy District Judge Cole in the Bromley County Court held that the leaseholders were entitled to acquire the freehold and directed that the premium payable be determined by this Tribunal. The Tribunal assessed the premium to be £14,753 This case related to 3 flats. The unexpired residue of the current lease was 80.01 years.