My husband and I are planning to acquire a flat in Streatham and have instructed a Streatham conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Virgin Money have this afternoon contacted us to advise us that they have now hit a problem as our Streatham conveyancer 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 standard 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Streatham solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
The owners of the house we are looking to purchase are using a conveyancing solicitor in Streatham who has suggested a lock out agreement with a payment of 5k. Are such agreements the norm for Streatham conveyancing transactions?
There are two main drawbacks with executing a lock out agreement (also referred to as a shut-out contract) is that it diverts attention away from progressing with the conveyancing transaction itself, so unless it requires little or no negotiation then it could transpire to be unhelpful. It is not promoted amongst Streatham conveyancing lawyers for this reason. A further issue is the extent of the remedies available - an aggrieved purchaser is extremely unlikely to be issued with injunctive relief to bar the owner selling to an alternative purchaser, so the only remedy open via the contract will be the recovery of abortive charges and, in rare situations, the extra payment of damages.
We are planning to acquire a property and require a conveyancing solicitor in Streatham who is on the Clydesdale solicitor panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Clydesdale . We don't recommend any particular firms conducting conveyancing in Streatham.
Just had an offer accepted on a new build flat in Streatham. Conveyancing is necessary evil 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 conveyancing.
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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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. 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. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan.
As co-executor for the estate of my uncle I am disposing of a property in Cardiff but I am based in Streatham. My conveyancer (approximately 250 kilometers awayrequires that I execute a statutory declaration before the transaction finalising. Can you recommend a conveyancing lawyer in Streatham to attest this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are Streatham based
We expect to complete the disposal of our £375,000 garden flat in Streatham on Friday in a week. The managing agents has quoted £360 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Streatham?
Streatham conveyancing on leasehold flats typically results in administration charges levied by managing agents :
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Completing pre-contract enquiries
Where consent is required before sale in Streatham
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I own a basement flat in Streatham. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
Most certainly. We can put you in touch with a Streatham conveyancing firm who can help.
An example of a Lease Extension decision for a Streatham residence is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case affected 1 flat. The unexpired residue of the current lease was 23.25 years.