My husband and I are planning to buy a flat in Penge and have appointed a Penge conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Halifax have this morning contacted us to advise us that there is now an issue as our Penge solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also represent 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 Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Penge solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Would the conveyancing lawyers via your comparison service conduct conveyancing in Penge by way of an attended exchange?
There are a few conveyancing specialists carrying out attended exchanges. You should e-mail us to secure a costs illustration and details as to dates.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the RBS Solicitor panel ahead of completing my conveyancing in Penge?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
My partner has urged me to instruct his lawyers for conveyancing in Penge. Should I use them?
Much as we are happy to recommend a Penge conveyancing lawyer the best way to find a conveyancing solicitor is to seek referrals from friends or relatives who have experience in using the conveyancer you're are thinking of instructing.
What advice can you give us when it comes to appointing a Penge conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Penge conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Penge conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
What are the charges for lease extension work? What volume of lease extensions have they carried out in Penge in the last year?
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Penge conveyancing firm to assist?
Most definitely. We are happy to put you in touch with a Penge conveyancing firm who can help.
An example of a Lease Extension case for a Penge premises is Flats 5, 9, 38 & 40 Blakewood Court Anerley Park in January 2012. the tribunal held that the premiums payable for the new lease sare: FLAT 5:- £7,130 FLAT 9:- £7,860 FLAT 38:- £15,867 FLAT 40: £14,834 This case was in relation to 4 flats.
Are there any apps to help search for a Penge conveyancing solicitor on the mortgage company conveyancing panel? I have a car and am prepared to travel up to twentykilometers to attend the solicitor.
Feel free to make use of the find a conveyancing panel tool on this website. Please choose the lender and your location, in this case Penge and you will see a number of lawyer located nearest Penge. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the lender solicitor panel.