Me and my partner are buying a flat in Swanscombe. My Solicitor has never been on on the mortgage company conveyancing list. Am I still permitted to continue with my Swanscombe conveyancing solicitor even though they are not on the bank approved list?
Your options include
- Proceed with your existing Swanscombe conveyancer but your bank will no doubt use a solicitor from their approved list. This will result in additional cost and likely frustration.
- Choose a fresh lawyer to act in the purchase, obviously checking they are on the mortgage company conveyancing panel.
- Convince your conveyancing practitioner to do everything possible to get listed on the lender’s panel of solicitors
My conveyancer has identified a a problem with the lease for the apartment we are buying in Swanscombe. The other side have put forward defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancer says that he must check that the mortgage company is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
About to purchase a new build apartment in Swanscombe. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Swanscombe
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
How do I search for a Swanscombe solicitor on the Nationwide Building Society conveyancing panel? I have a car and am happy to travel upto 10miles to meet the conveyancer.
You can use the tool on this website. Please select a lender and your location and you will see a number of Swanscombe conveyancing lawyers based on proximity. We have detailed some Swanscombe conveyancing firms towards the end of this page and you can call them to see if they are on the Nationwide Building Society panel
I am employed by a busy estate agent office in Swanscombe where we have experienced a number of flat sales put at risk due to short leases. I have been given conflicting advice from local Swanscombe conveyancing solicitors. Could you confirm whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Having spent years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Swanscombe. Can we issue an application to the Residential Property Tribunal Service?
Most definitely. We can put you in touch with a Swanscombe conveyancing firm who can help.
An example of a Lease Extension case for a Swanscombe residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The unexpired term as at the valuation date was 76 years.
Is it necessary during the course of the conveyancing process to attend the offices of the mortgage company conveyancing panel solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Swanscombe as it will be easier to attend their offices if required.
As opposed to 12 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Swanscombe.