Me and my fiance are buying a 1 bedroom apartment in Nunhead with a mortgage. We have a Nunhead conveyancer, but the bank advise she’s not on their "panel". We have to appoint one of the bank panel conveyancing practices or keep our Nunhead property lawyer as well as pay for one of their panel firms to represent them. We regard this is inequitable; are we not able to demand that the mortgage company use our Nunhead conveyancing practitioner ?
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. Another option that might be available is for your Nunhead conveyancing solicitor to apply to be on the conveyancing panel.
I have given 8 weeks notice to my existing landlord and have to leave my rented property in Nunhead by the end of next month. Conveyancing on my purchase is underway. Can I complete in six weeks as don't want to have to find temporary accommodation?
Generally one should not provide notice on a rental unless you have exchanged. Assuming that you have not previously done so, speak to your solicitor and request that they apply pressure on the owners lawyers, try to get a realistic time scale from them that everyone will look towards
How does conveyancing in Nunhead differ for newly converted properties?
Most buyers of new build or newly converted property in Nunhead approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because new home sellers in Nunhead usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Nunhead or who has acted in the same development.
How straightforward is it to use the search app to select a conveyancing practitioner in Nunhead on the authorised to act for my bank?
1st choose a bank such as Barclays , Barnsley Building Society or Britannia then specify your preferred area a common one being Nunhead. Conveyancing firms in Nunhead and beyond will then be identified.
My wife and I purchased a leasehold house in Nunhead. Conveyancing and Clydesdale mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Nunhead who previously acted has now retired. Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Nunhead conveyancing firm to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Following years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Nunhead. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the price payable.
An example of a Freehold Enfranchisement decision for a Nunhead flat 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 was in relation to 3 flats. The unexpired lease term was 80.01 years.
Our lawyer in Nunhead has discovered a a legal deficiency with the lease for the apartment we are purchasing in Nunhead. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer has advised that as he is on the bank conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. A precondition to being on the mortgage company approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender 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.