We are buying a 2 bedroom flat in Streatham with a mortgage. We have a Streatham lawyer, however the lender says she’s not on their "panel". It appears that we have no choice but to instruct one of the bank panel conveyancing practices or continue with our Streatham solicitor and pay for one of their panel firms to represent them. We consider that this is inequitable; can we not demand that the mortgage company use our Streatham lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. A further alternative is for your Streatham conveyancing solicitor to apply to be on the conveyancing panel.
My wife and I have just acquired a property in Streatham. We have since encountered a number of issues with the property which we suspect were omitted in the conveyancing searches. Is there anything we can do? Can you clarify the type of searches that should have been conducted as part of conveyancing in Streatham?
It is not clear from the question as what problems have arisen and if they are unique to conveyancing in Streatham. Conveyancing searches and investigations undertaken during the legal transfer of property are supposed to help avoid problems. As part of the legal transfer of property, a property owner fills in a document referred to as a Seller’s Property Information Form. If the information provided is misleading, then you may have a claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Streatham.
I am considering applying for a UBS mortgage for purchase of a new build (under development) in Streatham with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for UBS ?
There is nothing to stop you using your solicitor, but UBS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
What does a local search reveal about the property I am purchasing in Streatham?
Streatham conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Xpress Legal The local search is essential in every Streatham conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search should supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
Just had an offer accepted on a new build apartment in Streatham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Streatham
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are architect prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan.
I am using a search engine for the phrase on line conveyancing in Streatham it reveals numerous solicitorsin the vicinity. How do I determine which is the suitable conveyancing solicitor for the sale of my house?
The ideal method of choosing a suitable conveyancer is via trusted recommendation, so ask colleagues and those you trust who have purchased a property in Streatham or a reputable estate agent or mortgage broker. Costs for conveyancing in Streatham differ, so it's a good idea to secure a minimum of three costs illustrations from different property lawyers. Dont forget to clarify that the charges are assured not to to be inflated.