I am selling my apartment in South East London and the EA has just e-mailed to say that the purchasers are changing their property lawyer. I am told that this is due to the fact that the lender will only work with property lawyers on their approved list. On what basis would a leading mortgage company only work with certain lawyers rather the firm that they want to choose for their conveyancing in South East London ?
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 Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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. Your buyers are not going to have any sway in the decision.
Me and my fiancee are purchasing our first house. Our conveyancing practitioner has e-mailedto enquire if we wish to purchase supplemental conveyancing searches. We are really unsure what's necessary for conveyancing in South East London
The extent of South East London conveyancing searches should be triggered based entirely on the property, the location, the possibility of any of these risks, your familiarity of the region and risks, your overall approach to risk. What matters is that you adequately comprehend what information each search could give you. You may then decide if you personally think you need that information. If unclear, ask your property lawyer to explain.
Should my conveyancer be raising enquiries regarding flooding as part of the conveyancing in South East London.
The risk of flooding is if increasing concern for solicitors dealing with homes in South East London. There are those who buy a house in South East London, fully aware that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to give advice on flood risk, but there are a various searches that can be carried out by the purchaser or by their solicitors which will give them a better understanding of the risks in South East London. The conventional set of information sent to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the owner to discover whether the premises has ever been flooded. If flooding has previously occurred and is not notified by the seller, then a purchaser may commence a claim for damages stemming from an incorrect response. A purchaser’s lawyers should also commission an enviro report. This will reveal whether there is a recorded flood risk. If so, further investigations will need to be initiated.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The solicitors who conducted the conveyancing in South East London 10 years ago have long since closed. What do I do?
In today’s world there are copies made of almost everything, and your conveyancer will be aware exactly where to locate all the appropriate documentation so you can purchase or dispose of your house without a hitch. If copies are not available, your solicitor may be able to put in place insurance or indemnities against possible claims on the premises.
Is it best to appoint a South East London conveyancing solicitor who is local to the property I am purchasing? An old friend can conduct the legal formalities however his firm is located 400kilometers away.
The primary upside of using a local South East London conveyancing practice is that you can visit the firm to execute documents, deliver your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were impressed that must outweigh using an unfamiliar South East London conveyancing lawyer just because they are round the corner.
Estate agents have just been given the go-ahead to market my garden flat in South East London. Conveyancing has not commenced, however I have recently had a yearly service charge invoice – Do I pay up?
It best that you discharge the invoice as normal given that all ground rent and maintenance invoices should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Following months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in South East London. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a South East London conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a South East London flat is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case related to 1 flat. The remaining number of years on the lease was 73.26 years.