I can't travel far from Penge. Is there a reason why all Penge conveyancing practitioners are not on all mortgage company panels?
A decade ago most banks demonstrated an attitude to risk which differs from the current day. The Financial Services Authority in 2010 carried out a thematic review into fraud which in summary warned lenders: know the conveyancers on your panel. As a result, mortgage companies have subsequently requiredmore information from law firms concerning their operations and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Many firms have found themselves excluded from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the criteria of volume of transactions the mortgage companies set.
Can the conveyancing lawyers listed on your site execute conveyancing in Penge by way of an attended exchange?
We do have a number of conveyancing experts who can conduct one day exchanges. Do e-mail us to secure a costs illustration and details as to dates.
Is it necessary to pay for insurance to protect me from financial exposure to chancel repairs when acquiring a residence in Penge?
Unless a previous acquisition of the property took place post 12 October 2013 you may assume that lawyers carrying out conveyancing in Penge to continue to suggest a chancel search and or insurance against a claim.
I have a terraced Victorian property in Penge. Conveyancing solicitor represented me and Britannia. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Penge and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing lawyer who conducted the work.
I am buying a new build house in Penge benefiting from help to buy. The builders would not reduce the price so I negotiated £7000 of additionals instead. The property agent advised me not to tell my conveyancer about this deal as it will jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In what way does the Landlord & Tenant Act 1954 impact my business property in Penge and how can your lawyers assist?
The 1954 Act provides protection to commercial leaseholders, granting the a statutory right to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Penge is one of the many locations in which our lawyers are located