I am in the process of selling my house in Peckham and the estate agent has just telephoned to say that the buyers are swapping solicitor. The reason given is that the mortgage company will only engage with solicitors on their conveyancing panel. On what basis would a major lender only engage with specific law firms rather the firm that they want to appoint for their conveyancing in Peckham ?
Mortgage companies have always had panels of law firms they are content to work with, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any sway in the decision.
I used Stirling Law several years ago for my conveyancing in Peckham. I now require my papers however the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Peckham of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a ground for flat up to £245,000 and found one close by in Peckham I like with amenity areas and station in the vicinity, however it's only got 61 years unexpired on the lease. I can't really find anything else in Peckham suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
How do I identify a Peckham solicitor on the Godiva Mortgages Ltd conveyancing panel? I have wheels and am happy to travel upto 20kilometers to meet the conveyancer.
You can use the tool on this page. Please pick a mortgage company and your location and you will see a number of Peckham conveyancing lawyers based on proximity. We have listed some Peckham conveyancing firms towards the end of this page and you can telephone them to see whether they are on the Godiva Mortgages Ltd approved list
I am using a search engine for the words on line conveyancing in Peckham it shows results of numerous conveyancersin the area. How do I determine which is the suitable solicitor for my move?
The ideal method of seeking a suitable conveyancer is through a trusted recommendation, so ask colleagues and family who have bought a property in Peckham or the respected estate agent or mortgage broker. Fees for conveyancing in Peckham differ, so it's sensible to obtain a minimum of four quotes from varying types of property lawyers. Make sure that you know what costs in the quote includes.
My wife and I purchased a leasehold house in Peckham. Conveyancing and HSBC Bank mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Peckham who acted for me is not around. Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Peckham conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Peckham conveyancing firm to help?
in cases where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to arrive at the premium.
An example of a Freehold Enfranchisement decision for a Peckham premises is 31 Kings Grove in January 2012. By a claim form issued on 11" August 2011 under action number 1LB01618 in the Lambeth County Court the applicant tenants sought dispensation under section 26 of the Leasehold Reform, Housing and Urban Development Act 1993 from the requirement to serve a notice under section 13 of that Act in order to purchase the freehold of the premises. The Tribunal decided the amount payable for the freehold as £10,728 This case related to 2 flats. The remaining number of years on the lease was 80.5 years.